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House prices continue to grow in February

Wed 19 Mar 2014

Nationwide has published figures which have highlighted a continuing trend for house price growth during February. Their statistics revealed a 0.6% increase in average values since January to £177,846. This represents and annual rise of 9.4%.

Houseladder.co.uk reported that this is the 14th consecutive monthly increase in house prices, boosting the confidence within the housing sector.

Robert Gardner, Chief Economist at Nationwide, commented: "Price growth is being supported by the fact that the supply of housing remains constrained, with housing completions still well below their 
pre-crisis levels, which was already insufficient to keep up with the pace of household formation."

He added that cash buyers have played a crucial role in the recovery of the UK housing market, with 35% of all purchases being cash buyers.

"To Roy and the rest of the team Thank you for all of your efforts on our behalf and for pulling the rabbit out of the hat at the last minute! Best wishes"
Juliet