February 1, 2011 | Author

Author Alec Hanson

Nationwide HPI - January 2011: -0.5% down.

As per previous expectations, Nationwide’s House Price Index for January indicates a sluggish start to the property market for 2011. The headline monthly change was -0.1%, placing average UK house prices at £161,602.

This further demonstrates the lack of change in the market, the 3 month on 3 month decline was -0.5%

Commenting, Robert Gardner, Nationwide’s Chief Economist said:

“The outlook is still highly uncertain, but the most likely outcome is that the pattern of low transaction levels and prices moving sideways or modestly lower will continue through 2011…….there are few signs of a glut of unsold homes building up on the market that would lead to a sharper price correction. Indeed, there are tentative signs that the volume of homes coming onto the market may be slowing.”

For more information visit: http://www.nationwide.co.uk/hpi/historical/Jan_2011.pdf

Do you want to know what 2011 has in store? Download the Just Do Property 2011 Property Market Predictions eBook: http://www.justdoproperty.co.uk/ebooks/expert-predictions-2011-property-2-383