House prices edge up in February

UK HOUSE prices inched up in February, although were flat year on year according to data out this morning from Nationwide.

Figures from the lender show that house values edged up 0.2 per cent last month, with the average home now costing £162,638.
On an annual basis, prices were unchanged in February.
“While activity in the housing market remains subdued by historic standards, there have been tentative signs of a pick up in recent months,” Robert Gardner, chief economist at Nationwide, said this morning.
“The Funding for Lending Scheme has achieved some success in bringing down mortgage rates, with encouraging signs of an improvement in credit availability.”