–UK Feb House Price Index Up 0.2% m/m; Up 0.3% y/y
LONDON (MNI) – 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.
The clear pattern in the UK housing market is one of very modest
rise in nominal terms, with house prices showing marked declines in real
terms.
–London bureau: email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDS$]
