UK house prices rebounded at a stronger-than-expected pace in January, reaching a record high, data from the mortgage lender Halifax showed Friday.
House prices increased 0.7 percent on a yearly basis in January, following a fall of 0.5 percent in December.
Year-on-year, growth in house prices accelerated to 1.0 percent from 0.4 percent in the prior month.
Average property prices hit GBP 300,077 in January. Data showed that house prices rose above GBP 300,000 for the first time on record.
Halifax expects house prices to edge up between 1 percent and 3 percent this year.