British households perceive that the value of their home increased at the start of the year, though the rate of growth eased from the prior month, a survey from Knight Frank and Markit Economics showed Friday.
The house price sentiment index, or HPSI, fell to 58.7 in January from 59.4 in December. However, a reading above 50 indicates a rise in house prices.
Moreover, this marked the twenty-sixth successive month of the index remaining above 50.
The future HPSI, a measure of expectations on house prices, rose slightly to 70.5 in December from 70.3 in the preceding month.
This was the highest reading since June 2015, but remained below the peak of 75.1 reached in May 2014.
The survey also showed that the rate of growth expected over the next year eased in six of the eleven regions in January.
“January’s strong survey figures suggest that UK house price sentiment has so far been resilient in the face of recent global financial market jitters and a more gloomy economic news flow,” Tim Moore, senior economist at Markit, said.
The material has been provided by InstaForex Company – www.instaforex.com