FXstreet.com (Barcelona) - UK House prices have posted in January a record year on year decline, although, according to figures by Nationwide, the three-month performance starts to show signals pof recovery.

House prices have declined 1.3% in January from December in the UK, while thy have dropped 16.7% in the last twelve months, the largest drop on record. The average price of a house fell to GBP150,501 in January.

On the three month average, however, prices seem to be catching up slightly, as the latest three month average has shown a 4.0% decline in January, from the -4.2% posted in the three months to December, the fourth consecutive improvement, although it is yet too early to affirm whether this is a beginning of a sustained trend or not.