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Halifax released its house prices data for the U.K. on Thursday. House prices in the U.K. jumped 1.7% in January, exceeding expectations for a 0.3% gain, after a 2.0% gain in December. December's figure was revised up from a 1.7% increase.
On a yearly basis, house prices climbed 9.7% in the three months to January, after a 9.5% increase in the three months to December.
"The imbalance between supply and demand continues to exert significant upward pressure on house prices. This situation looks set to persist over the coming months," Halifax's housing economist Martin Ellis said.