UK inflation in January increased to a six-month high, driven by petrol and house price rises.
The CPI stood at 1.8% last month, up from 1.3% in December, according to latest figures published by the Office for National Statistics.
The 1.8% figure is ahead of economists’ CPI forecasts of 1.6%, and remains below the BoE’s 2% target for inflation.
Annual house prices rose across all regions of the UK, according to the latest UK House Price Index, increasing by 2.2% over the year to December 2019, up from 1.7% in November.
Andrews Property Group CEO David Westgate said: “For all regions to have delivered positive annual growth for the first time in nearly two years highlights just how resilient the UK property market has been against a backdrop of extreme political uncertainty.
“There’s a definite sense that the property market has turned a corner and is shaking off its post EU-Referendum anxieties. Sheer boredom with Brexit and the simple need to get on with their lives saw more and more people transact during 2019.”
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In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
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In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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