The prices of houses in the United Kingdom increased 4.1% annually in January, according to the Nationwide House Price Index released on Thursday. The figure marks a decline from December when annual house price growth stood at 4.7%.
On a monthly basis, the index was up by 0.1% on a seasonally adjusted basis, while the average house price in the country in January stood at £268,213.
"The housing market continues to show resilience despite ongoing affordability pressures," Nationwide Chief Economist Robert Gardner commented, adding that affordability "remains stretched by historic standards."