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Small house price rise in January
The price of property in the UK rose by 0.6 per cent in January, according to new research.
Halifax's latest House Price Index revealed that the value of property rose for the seventh consecutive month, although the figure was the lowest seen during the period.
Prices have now risen by 9.9 per cent from the low seen in April 2009 and the average cost of purchasing a home stands at £169,777.
Martin Ellis, housing economist at Halifax, said the "marked" drop in interest rates over the past 15 months boosted housing demand.
He added: "There are some signs that more people are putting their homes on the market.
"Further increases in the supply of property are possible over the coming months, which would help to curb upward pressure on prices. Overall, our current view is that house prices will be flat during 2010."
The Bank of England's Monetary Policy Committee chose to keep the official base rate at 0.5 per cent last week.