According to the report from Halifax, prices in the three months to January were 0.8% higher than in the same three months a year earlier – down from the 1.3% annual growth rate recorded in December

House prices in the latest quarter (November-January) were 0.6% lower than in the preceding

three months (August - October)

On a monthly basis, house prices decreased by 2.9% in January, following a 2.5% rise in December. The average house price is now £223,691

Russell Galley, Managing Director, Halifax, said: “Attention will no doubt be drawn towards the monthly fall of -2.9% from December to January, the second time in three years that we have seen a drop as a new year starts. However, the bigger picture is actually that house prices have seen next to no movement over the last year, with annual growth of just 0.8%. This could either be viewed as a story of resilience, as prices have held up well in the face of significant economic uncertainty, or as a continuation of the slow growth we’ve witnessed over recent years.”