UK house price growth
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House price growth slowed for a second consecutive month in February, with just one region beating the rate of inflation.

Data from Your Move shows average prices fell by 0.5% annually last month to £302,435.

This was the same level of annual decline recorded in January.

Prices grew by 0.5% on a monthly basis after two months of zero movement previously.

The fastest growing region in February was Wales, which saw prices grow 3% annually to £188,077.

This compares with the inflation rate of 1.8%.

All other regions either posted annual growth below this rate or registered a decline.

The next fastest growing region was the west midlands, up 1.7% to £227,032.

The largest annual fall was in the south-east of England where prices fell 1.7% to £371,791.

London remained the region with the highest house prices at £622,494, which was down 1.5% annually.

Oliver Blake, managing director of Your Move, said: “Whilst a challenging market, it’s a mixed picture with some regions still experiencing price rises.

“There clearly continues to be demand for property and a need for more homes to come to market.”

By MARC SHOFFMAN

Source: Property Industry Eye

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