India, Jan. 31 -- UK house prices growth slowed more than expected in January largely reflecting high mortgage rates, data published by the Nationwide Building Society showed on Friday.
House prices gained only 0.1 percent in January. This follows a 0.7 percent increase in December and also came in weaker than economists' forecast of 0.3 percent.
House prices grew 4.1 percent on a yearly basis, slower than the 4.7 percent rise in December. Prices were expected to climb 4.3 percent.
"The housing market continues to show resilience despite ongoing affordability pressures," Nationwide Chief Economist Robert Gardner said.
Furthermore, the economist noted that house prices remain high relative to average earnings and the deposit hurdle remai...