House prices rise in February

The UK housing market befitted from increased prices in February, according to the latest house price report.

Assetz has published its House Price Watch for the month, in which it revealed that the average price increased by 0.7 per cent month-on-month.

The report is a summary of all the major UK house price indices and it put the average house price at £213,430.

Perhaps most significantly, annual price inflation stabilised between January and February at 5.4 per cent and Stewart Law from Assetz said that we may have seen the end of reduced house price growth.

"Have we witnessed an end to the reducing rate of house price growth? With annual house price growth stabilised at 5.4 per cent for the second consecutive month, and monthly house prices up 0.7 per cent in February - quite possibly," commented the chief executive.

"I anticipate that we'll see a continued stabilisation and even an upturn in monthly house price growth over the following months, with annual growth still likely to stabilise at around five per cent for the year," he added.

The Land Registry recently put house price growth at 0.9 per cent in January.

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