Houses prices grow at fastest pace for a year in February according to Your Move
The Your Move latest England & Wales House Price Index for February 2017 released today headlines ‘Highest house price growth for a year with Birmingham and Merseyside experiencing new peak’.
The report states: Prices grew at their fastest pace for 12 months in February, at 0.6% monthly, but annual house price inflation fell for 12th consecutive month to 2.4%, lowest rate since 2013.
The average house price in England & Wales in February 2017 is £297,832, with both Merseyside and Birmingham experiencing peak prices, the East of England is overall top performing region with prices up 5.9%.
Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents said: ‘Its an encouraging start to 2017. We’ve seen the strongest house price growth in a year, the emergence of the promised Northern Powerhouse and the first tentative signs of a recovery in our highest priced properties in London.
“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”.