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UK house prices rose by 1.2% in year to February, ONS says
London recorded its seventh straight annual decline as rents rose 3.4% and lenders trimmed fixed mortgage rates, the ONS said.
- On Wednesday, the Office for National Statistics reported average UK house prices rose 1.2% annually in February to £268,000, edging up from January's 1.0% growth.
- Richard Donnell, executive director of research at Zoopla, explained that sellers are being realistic on price, a factor currently constraining annual growth to 1.2%.
- Regional data shows England's average prices climbed to £290,000, while London property values fell 3.3% annually in February; Northern Ireland reported a 7.5% increase to £196,000.
- Looking at the rental market, average UK monthly private rents reached £1,377 in March, a 3.4% annual increase, with England averages hitting £1,434.
- As lenders trim fixed rates, associate director David Hollingworth at L&C Mortgages noted homeowners are awaiting the Bank of England's interest decision next week for clarity.
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derrynow.comHouse prices rise by 1.2% annually ‘reflecting sellers being realistic’
Average property values in London fell annually for the seventh month in a row in February, the Office for National Statistics said. The average UK house price rose 1.2% annually in February, edging up from a 1.0% increase in the year to January, according to Office for National Statistics (ONS) figures. Across the UK, the average house price in February was £268,000. Average house prices increased in February to £290,000 (0.8% annual growth) in…
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Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
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- 67% of the sources lean Left
67% Left
L 67%
C 33%
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