The rate of house price increases could soon rise above 10% a year, the Nationwide building society has said.
Its latest survey shows that the average UK house price rose by 1.2% in January, pushing the annual rate up to 8.6%.
It means the average UK home now costs £163,481. Separately, the Land Registry survey revealed that the annual change in property prices showed a rise for the first time since May 2008.
It said that the year-on-year increase was 2.5% in December, following an eighth consecutive monthly rise. Please click here to read more.
