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British house price growth continues to moderate in January

Xinhua, January 29, 2015 Adjust font size:

The annual pace of house price growth in Britain continued to moderate in January, falling from 7.2 percent in December to 6.8 percent, data released on Thursday showed.

The annual house price growth slowed for the fifth month in a row, according to Nationwide, the country's second biggest mortgage lender.

The house prices rose by 0.3 percent on a month-on-month basis to 188,446 pounds (about 285,765 U.S. dollars) in January, it added.

"The further moderation in the pace of price growth is unsurprising, given the slowdown in housing market activity in recent months," said Robert Gardner, Nationwide's Chief Economist.

"If the economic backdrop continues to improve as we and most forecasters expect, activity in the housing market is likely to regain momentum in the months ahead," Gardner added. Endit