House sales stagnated in January — what does it mean for your property?

The rise in the cost of Government borrowing in January dented people's appetite to buy and sell houses during the winter month - (Getty Images)

The UK housing market appeared to stagnate in January as rising government borrowing costs dampened buyer enthusiasm, according to a new survey.

The Royal Institute of Chartered Surveyors (RICS) reported that both housing demand and sales remained largely unchanged compared to December, attributing the plateau to a recent surge in gilt yields.