UK Feb house prices up 12.1 pct year-on-year in Feb - govt figures |
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Mon, 16 Apr 2007 09:53
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LONDON (Thomson Financial) - The UK housing market stayed buoyant in the early months of the year, as buyers shrugged off the Bank of England's three rate hikes since August last year, according to government figures.The Department for Communities and Local Government said annual house prices were up 12.1 pct in February, building on the 10.9 pct rise the previous month. The latest rise exceeds predictions of a 11.1 pct increase.However, on a month-on-month basis, house prices fell 0.1 pct.The figures are based on house prices at the transaction stage and therefore lag survey evidence from the likes of Nationwide, Halifax and the Royal Institution for Chartered Surveyors.sivakumar.sithraputhran@thomson.comssCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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