House prices up 6.9% in February

Figures from Nationwide show that average UK house prices grew 6.9% year-on-year in February, up from the 6.4% growth recorded in January. The average price hit a record £231,068 last month, with this marking a 0.7% month-on-month increase following a 0.2% dip in January. Nationwide's chief economist Robert Gardner said the increase seen in February was a surprise, with growth having been expected to soften as the (then-expected) end of the stamp duty holiday neared. He added that “if labour market conditions weaken as most analysts expect, it is likely that the housing market will slow in the months ahead”.

BBC News (02/03/2021)   Financial Times (02/03/2021)