fbpx

50pc of country saw price rises in Feb

Ryan Fowler

March 3, 2014

Hometrack attributed the increase, which represents the highest coverage of growth for a decade, to improving consumer confidence and low mortgage rates.

Average prices were up by 0.7% over the month – the largest monthly increase since April 2007.

House prices grew across all regions in February with the strongest gains in London (1.1%) and the South East (0.9%). All other regions registered below average price gains as buyers remain cautious.

Richard Donnell, director of research at Hometrack, said: “The housing recovery continues to spread across the country, building on the momentum that started a year ago.

“The latest survey shows that house prices increased across more than 50% of the country in February (51%).

“This is the greatest coverage of house price growth for almost a decade showing the extent to which market sentiment has improved in the last 12 months.

“The continued imbalance between supply and demand indicates we can expect further upward pressure on prices in the months ahead.”


Sign up to our daily email