09 Feb House prices bounce back in January

House prices “bounced back” in January, with the Halifax reporting a quarterly rise of 1.9% across the UK.

The measure compares prices in the three months to the end of January with the previous quarter.

According to the Halifax prices in January alone increased by 2%, compared with December – the largest January rise for six years. And when measured on an annual basis, house price inflation increased to 8.5% – up from 7.8% in December.

BoE holds interest rates at 0.5%

Meanwhile in other welcome news for homeowners, the Bank of England has held interest rates at 0.5% for the 71st month in a row.

The meeting of the Monetary Policy Committee (MPC) in January saw all members of the Committee vote to hold interest rates at their current level.

March’s MPC meeting will mark the sixth anniversary of the decision to cut interest rates to 0.5%.