UK DATA: Feb House Price Index Up 0.2% m/m; Up 0.3% y/y
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UK house prices saw small nominal gains in February, according to
the House Price Index released by National Statistics Tuesday. The data
showed house prices up a seasonally adjusted 0.2% on the month and up
0.3% on the year in February. This is the first time National Statistics
has published the House Price Index, with the HPI previously under the
aegis of the Department for Communities and Local Government. English
house prices were up 0.4% in the 12 months through February, trailing
Scottish prices rises, of 1.1%. The fall came in Wales and, most
strikingly, Northern Ireland, with the latter seeing a 9.7% decline in
house prices on the year.