HOUSE prices rose by 1.2% in January and are up 8.6% year-on-year, according to Nationwide Building Society.

Nationwide said recent economic data had provided a "mixed bag" for the housing market.

Martin Gahbauer, Nationwide's chief economist, said: “House prices strengthened their upward momentum at the start of 2010, increasing by a seasonally adjusted 1.2% month-on-month in January.

"The three month on three month rate of change - usually a smoother indicator of the near term trend - dipped slightly ......for the full story register now for free or login below...