Friday, January 29, 2010
Nationwide up strongly, consumer confidence higher
Posted by David Smith at 11:00 AM
Category: Thoughts and responses

A strong start to 2010 for house prices, according to the Nationwide Building Society, with prices starting the year with a rise of more than 1%. This is what Nationwide said:

"House prices strengthened their upward momentum at the start of 2010, increasing by a seasonally adjusted 1.2% month-on-month in January. The 3 month on 3 month rate of change usually a smoother indicator of the near term trend dipped slightly from 2.3% in December to 2.1% in January, but this primarily reflects the smaller price increases recorded in November and December. At 163,481, the average price of a typical UK property cost 8.6% more than a year earlier in January, up from 5.9% in December. Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month for the first time since May 2007."

Consumer confidence also picked up, with the GFK-NOP measure up by two points in January. More here.