House prices were unchanged in January compared to the previous month, according to the Halifax bank. However, the country's biggest mortgage lender said that house prices were rising at an annual rate of 4.5%.
The gain in annual house price growth pushed the value of the average UK home to £197,244 - a rise of £7,628.
The bank said that there were continuing signs of weakness in housing market activity and that the market would be flat during the year. The figures are the latest to highlight a slowing in UK house price growth, after a decade of near record-breaking increases.
Can we trust that the market will stay flat this year? What does this mean when it comes to buying and selling homes?
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