According to the Halifax, house prices rose 0.5% in February. This means the average cost of a home in the UK has gone up from £162,844 to £163,600 – a rise of £756.
And prices in the three months to February were up 1.9% compared with the preceding three months. This makes it the third consecutive increase.
The report also goes on to state that house prices in the three months to February were 1.9% higher than over the same period a year ago. This represents the second successive rise in this annual measure and was the biggest increase since September 2010 when the increase was 2.6%.