house market update , housing data, property prices , housing , stamp duty , march 2016 UK house prices , increasing affordability issues
UK house prices continue to rise at a "robust pace", the Halifax has said - a position echoed by the latest figures from a rival lender. The Halifax, part of Lloyds Banking Group, said property values were up 9.7% in February compared with a year ago, but down slightly on January. The Nationwide Building Society said house price growth remained "steady". Demand outstripping the number of homes on the market is pushing up house prices, surveys suggest. Affordability The Halifax said that house prices in the three months to the end of February were up 3% compared with the previous three months. The annual rate of change of 9.7% was unchanged, with the average home valued at £209,495. The Halifax added that property prices were down 1.4% in February compared with January. "Prices continue to rise at a robust pace driven by a significant imbalance between supply and demand. Whilst this position is likely to continue over the coming months, there are some tentat...