• Annual house price growth slows to 0.1%

• Modest 0.3% increase month-on-month after taking account of seasonal factors

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “Annual house price growth almost ground to a complete halt in January, with prices just 0.1% higher than the same time last year. This follows a subdued December when price growth slowed to 0.5%. “Indicators of housing market activity, such as the number of property transactions and the number of mortgages approved for house purchase, have remained broadly stable in recent months, but forward-looking indicators had suggested some softening was likely”.