FTSE 100 Live 31 January: Index at record high, house price growth softens
07:13 , Graeme Evans
The price of a typical UK home rose by 4.1% year-on-year in January, which compares with the rate of 4.7% in December.
The figures published by building society Nationwide also show that house prices increased by 0.1% month-on-month, with the average price at £268,213.
Its chief economist Robert Gardner said: 'The housing market continues to show resilience despite ongoing affordability pressures.
'A prospective buyer earning the average UK income and buying a typical first-time buyer property with a 20% deposit would have a monthly mortgage payment equivalent to 36% of their take-home pay – well above the long-run average of 30%.'
07:04 , Graeme Evans
The FTSE 100 index is set to hold its position at a record high after adding 1% at 8647 in yesterday's session.
IG Index futures point to a further rise of nine points after US markets closed in positive territory last night.
The Dow Jones Industrial Average rose 0.4%, the S&P 500 index by 0.5% and the Nasdaq Composite lifted 0.3%.
Apple shares were 1% lower before rallying 3% in extended hours as investors responded to figures showing record first quarter sales and 7% rise in net income.
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