Highest house price growth for a year
- Prices surge 0.6% in February yet annual rate of growth falls to 2.4%
- East of England is top performing region in terms of prices, up 5.9%
House prices grew at their fastest pace for 12 months in February, with average prices increasing 0.6%, double the rate in January according to the latest England & Wales House Price Index from Acadata and LSL – parent company of Your Move.
Strong performance in the East of England and a return of growth in high value London property pushed average prices up to £297,832.
Oliver Blake, Managing Director of Your Move estate agents, said: “It’s an encouraging start to 2017. We’ve seen the strongest house price growth in a year and the good news too is that the number of first time buyers grew last year and house building was up – although home ownership is now at its lowest level in over three decades.”