UK house prices dip in Feb, but strong annual growth continues: Halifax

[LONDON] British house prices fell unexpectedly last month but were still almost 10 per cent higher than a year ago, mortgage lender Halifax said on Thursday.

House prices fell 1.4 per cent in February, reversing much of January's 1.7 per cent increase, compared with a forecast for zero growth in a Reuters poll. Annual house price growth was steady at 9.7 per cent in the three months to February.

Despite February's fall, Halifax said house prices were likely to continue rising at a robust pace because of an imbalance between supply and demand.

Earlier on Thursday, rival mortgage lender Nationwide reported that house price growth picked up speed in annual terms last month.

REUTERS