UK house prices increased for the first time on an annual basis in more than a year in February, as a decline in borrowing costs prompted growth in the housing market, according to a survey by Nationwide.
The average price of a home rose to £260,420, up by 0.7% from the month before, and 1.2% higher compared with a year earlier, the research for Britain’s biggest building society found. This is the first annual growth since January 2023, and follows a 0.2% year-on-year drop in January.
