Slight drop in UK house prices

Figures from the Department for Communities and Local Government show that house prices in the UK fell by 0.1% between January and February.

The average house price in the UK stands at £205,102 according to the official government figures, down slightly from £205,339 in January. On a year-on-year basis, house prices have risen by 12.1%.

However, surveys by mortgage lenders Halifax and Nationwide do not show any drop in house prices. Figures from the lenders have actually shown sharp rises in prices.

All the recent surveys agree house prices are rising fastest in London and Northern Ireland.

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