UK house prices are growing at their fastest rate since before the global financial crisis, according to Halifax figures, which said prices rose by 0.5% in February, equating to £370 a week.
The housing market is continuing to defy economic conditions, with the typical property notching up its biggest annual cash gain since the lender’s index began.
Prices last month were 10.8% higher than their level in February 2021, the highest annual growth rate since June 2007, as prices hit a new record high of £278,123.
Russell Galley, managing director at Halifax, said: “The UK housing market shrugged off a slightly slower start to the year with average property prices rising by another 0.5% in February, or £1,478 in cash terms.
“This was an eighth successive month of house price growth, as the resilience which has typified the market throughout the pandemic shows little sign of easing.
Read the full article on Property Industry Eye | MARCH 8, 2022 | MARC DA SILVA
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