Sales 'busy' as house prices rise

HOUSE-PRICE growth slowed slightly last month, but year-on-year increases remained robust, despite higher interest rates.

- By Amber Murray

The annual rate of growth was 4.1%, compared with 4.7% in December, the Nationwide House Price Index reports.

Month-on-month, house prices increased by 0.1%, after taking account of seasonal effects.

"The first half of the month was a bit slow but it has turned out to be a busier January than normal," said Amy Reynolds, head of sales at Richmond estate agency Antony Roberts. "The stamp duty holiday has helped, with a rise in sales agreed in those chains where first-time buyers are keen to take advantage of the discount."