February provides house price boost

The average price of a UK property increased in the four weeks leading to February 9th, according to new figures.

Rightmove has published its latest house price index, revealing that the average house gained 3.2 per cent in value in that time.

It is particularly good news for homeowners as prices actually fell by 0.8 per cent in the previous month.

The largest February rise was seen in the East Midlands, where the average property increased in value by 5.8 per cent.

This was followed by the south-east (4.8 per cent), the West Midlands (4.6 per cent) and Yorkshire & Humberside (3.3 per cent).

Commenting on the statistics, Rightmove's commercial director Miles Shipside said: "It's not the start of another price boom, but the interest rate cuts have no doubt given some sellers headier hopes."

The good news follows recent figures from the National Association of Estate Agents, which revealed that housing stock, registered buyers and sales per agent all increased in January.

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