According to Britain’s largest lender, Halifax, house prices in the UK grew by 0.4% in February 2018 after two consecutive monthly falls. This marginal growth brings the average house price in the UK to £224,353, slightly down from November 2017 high of £226,408.
Measured on an annual basis prices in the three months to February were 1.8% higher than the same period one year earlier and a reduction on the 2.2% growth recorded in January 2018.
Russell Galley, Halifax’s Managing Director commented; ‘house prices continue to remain broadly flat….the annual rate of growth is the lowest since March 2013….the low rate mortgage environment combined with an ongoing shortage or properties for sale should continue to support house prices over the coming months’.
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