16 Apr

Prices 'down' in February

Prices 'down' in February

Average house prices fell by £3,500 between January and February, according to government figures.

The Department of Communities and Local Government said the average property price in February was £217,737, down from £221,278 in January.

These figures, it was noted, were variously mix-adjusted but not seasonally adjusted, for comparison purposes.

By country, it stated that annual house price inflation was highest in Scotland, at 9.7 per cent and lowest in Northern Ireland and Wales (3.7 per cent and 3.8 per cent respectively).

Meanwhile, prices rose by 6.6 per cent in England, it said, while for the quarter ending in February house prices fell by 0.5 per cent.

A recent report in the Independent suggested there was an east-west divide in Britain and while properties in the west were declining those in the east of the country were rising.

"The emergence of this east-west divide has left experts scratching their heads," the newspaper admitted. ADNFCR-1222-ID-18554946-ADNFCR

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