India, Feb. 7 -- UK house prices grew more than expected in January to hit a record high as buyer demand increased ahead of the stamp duty hike in April, mortgage lender Halifax said Friday.
House prices increased 0.7 percent in January from December, reversing a 0.2 percent drop in the previous month. The monthly growth was also faster than economists' forecast of 0.4 percent.
On a yearly basis, growth in house prices moderated to 3.0 percent from 3.4 percent in December. This was the slowest growth since last July. Average property prices hit a record GBP 299,138 in January.
Halifax Head of Mortgages Amanda Bryden said affordability is still a challenge for many prospective home buyers but the resilience of the market is noteworthy.
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