Housing market remains robust
Mon 10th Mar, 13:58:23 GMT
UK annual house price growth reached 4.2 per cent in February, according to the latest figures.
Halifax has released its House Price Index for the month, showing that a typical UK property was worth £196,469 in the month.
In the three months to February, house prices increased by 0.2 per cent and Halifax remains confident that the housing market is built on solid foundations which will stand it in good stead throughout 2008.
"Over the past year, the average price of a home in the UK has increased by £4,390 to £196,649," said Halifax chief economist Martin Ellis.
"Whilst the housing market has slowed over the past six months, it is supported by sound economic fundamentals.
"Interest rate cuts by the Bank of England are also helping to underpin house prices," he continued.
The latest Land Registry house price report revealed that a typical UK property''s value increased by 0.9 per cent in January.
Halifax has released its House Price Index for the month, showing that a typical UK property was worth £196,469 in the month.
In the three months to February, house prices increased by 0.2 per cent and Halifax remains confident that the housing market is built on solid foundations which will stand it in good stead throughout 2008.
"Over the past year, the average price of a home in the UK has increased by £4,390 to £196,649," said Halifax chief economist Martin Ellis.
"Whilst the housing market has slowed over the past six months, it is supported by sound economic fundamentals.
"Interest rate cuts by the Bank of England are also helping to underpin house prices," he continued.
The latest Land Registry house price report revealed that a typical UK property''s value increased by 0.9 per cent in January.
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