FTSE 100 Live 31 January: Index at record high, house price growth softens
FTSE 100 Live 31 January: Index at record high, house price growth softens
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The price of a typical UK home rose by 4.1% year-on-year in January, which compares with the rate of 4.7% in December. The figures published by building society Nationwide also show that house prices increased by 0.1% month-on-month, with the average price at £268,213. Its chief economist Robert Gardner said: “The housing market continues to show resilience despite ongoing affordability pressures.
“A prospective buyer earning the average UK income and buying a typical first-time buyer property with a 20% deposit would have a monthly mortgage payment equivalent to 36% of their take-home pay – well above the long-run average of 30%.”. The FTSE 100 index is set to hold its position at a record high after adding 1% at 8647 in yesterday’s session. IG Index futures point to a further rise of nine points after US markets closed in positive territory last night.
