The latest land registry figures for January 2011 have shown a small rise in the value of UK homes, compared to December 2010. Martin Reynolds, director at Agent Tracker, says of the figures: “ The latest Land Registry figures show miniscule average growth in house prices in January in part due to the shortage of stock largely in the South East. Estate agents, however, have been wisely cautious about raising sellers’ expectations as consumer confidence remains shaky. While some lenders are responding to calls for a relaxation in strict lending criteria, those borrowers with higher levels of equity and impeccable credit ratings will be in the best position to secure good deals and compete for the best properties.

“Interest rates are still at an all-time low and anyone considering a move would be well-advised to take advantage of the current window of opportunity.”

Peter Rollings, CEO of estate agent Marsh & Parsons, also comments: “Amidst all the doom and gloom surrounding the UK’s housing market, house prices actually crept up in January. Prices are marginally lower than a year ago, when the average UK home value shot up by 2.1%, but it’s a clear indication that the housing market isn’t stuck in a downwards spiral. House prices have remained broadly flat in the last six months.

“The picture painted is rosier for London, where prices leapt up both on a monthly and annual basis. It seems undisputable that London’s housing market is now a different animal entirely from the rest of the UK. The real driving force of the capital’s property market is cash-rich international and domestic investors that are untouched by the mortgage difficulties affecting the wider UK market.”