UK house prices rise less than expected in January

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Mortgage NDD nationwide has said that with the increase in mortgage rates and increasing affordable amounts, the price growth of the UK home is slower than expected in January.

Average House price Raise 0.1 percent and 4.1 percent a year compared to the previous month – 268,213 stands at $ 268,213 – less than 4.7 percent recorded in December.

Economists surveyed by Reuters hoped for 0.3 percent of monthly growth and 4.3 percent annually.

Alex Ker, a economist at the consultant Capital Economics, said that the mortgage rate was not “slower than home prices” due to the increase in mortgage rates late last year. “

Apart Bank of England On Thursday, the mortgage interest rate increased in December in December, the average mortgage rate of two years increased by 60 percent of LOAN-to-price ratio to 5.4747 percent, from 8.5 percent to 8.2 percent in November and 8.25 percent in October.

In the summer of 2021, the average rate was below the .22.22 percent of the top, but in the mid -2021, the mortgage was expanded by 5.5 percent, which means mortgage affordability expanded.

The BOE is expected to announce a fourth percent of the interest rate on Thursday. Markets are determining the price of three rates throughout this year.

Mark Executive Mark Harris, a mortgage broker SPF private clients, says: “The interest rate is expected to decrease next week in the bank of England, looking for the outlook for the orrow.”

Experts say that home prices are also being supported by a possible increase in demand before the recent stamp tariff leave expires. From April, for the first time buyers, for example, instead of £ 425,000, 000 will start paying tariffs for 000 300,000 or more property.

Last year, nationwide housing affordable improvements to increase wages.

However, a potential buyer earns average UK’s income and buying a general first buyer property with 20 percent deposits can still be equivalent to 36 percent of their home-paying monthly mortgage payments-a good average average average average on average.

Furthermore, the price of the house is higher than the average income, the first time the buyer stands at 5.0 at the end of 2024, the long -term average is above 3.9.

Robert Gardner, the nationwide chief economist, says the market has shown resilience, “despite the ongoing affordable pressure”.

“Although there has been a slight improvement in the last one year, the affordability has expanded in Say Tihasic criteria,” he said.