House prices jump £2,000 in a month according to the Halifax

House prices jumped by almost £2,000 in January, Halifax has reported, as buyers hunted new homes amid a dwindling supply of good properties for sale.
Property prices have leapt almost £13,000 in a year, to an average of £175,546, the mortgage lending giant’s index showed. They now stand at their highest level in relation to wages in more than five years, with Halifax’s price-to-earnings ratio stretched to 4.74.
January saw annual property inflation stand at 7.3 per cent. This has slipped back from the 7.7 per cent hit in November, but still means that house prices are rising eight times as fast as wages, according to the most recent ONS data that put earnings up 0.9 per cent in a year.

Halifax Graph from Daily Mail

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