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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.

"We rented a property through Vincent Shaw for close to 3 years, and can’t recommend enough. Christianne managed our let throughout, we were always given ample warning and flexibility with any work or checks that needed to happen. The online system to manage your tenancy is very handy, and not something I’ve used with other agents. The inspections during and at the end of our tenancy were very fair, and we ultimately felt respected as tenants throughout. This was a breath of fresh air in comparison to other letting agents in the past and contributed to the house feeling very much like home and to us staying in the property for such a long time. Thank you!"
Rebecca