House prices up 0.4 per cent

House prices were 0.4 per cent higher than a year ago in February, marking the first annual rise since March 2008. House market analysts at Hometrack said prices rose a non-seasonally adjusted 0.3 per cent on the month but warned that the market did not appear poised for another boom. Prices were 1.0 per cent lower in January than the same month in 2009. The data coincides with the majority of other housing market surveys which have surprised economists to show a steady recovery.