Average UK house prices have fallen by £8,500 from their August 2022 peak, Halifax has reported. New figures show that house price growth stood at 2.1% in February for the third month in a row.
Across the UK, property values increased by 1.1% month on month in February, accelerating from 0.2% growth in January, according to the new Halifax index. The average UK house price in February was £285,476.
Average house prices in London have fallen by 0.9% over the past year – possibly affected by the capital’s large proportion of flats, reports PA. Mortgage rates jumped last autumn following September’s mini-budget, and the mortgage market later showed signs of settling.
