According to the Halifax House Price Index, there was an increase in the average UK house price in January this year. The average price increased by 1.9%, to an average of £163,996.

However, Halifax were quick to point out that it is important not to place too much weight on any one month's figures, and they still expect 2009 to be a tough year for the housing market.

If, by the grace of god, the housing market does start to stabilise, perhaps we will start to see an increase in mortgage loan figures.