House prices fell in February - ODPM

The house price inflation rate fell from 4.3% in January to 3.6% in February, while prices fell 1.2% between January and February compared with a fall of 0.5% over the same period the previous year. The ODPM says the fall in prices between January and February can be attributed to falls in average prices for all property types, in particular flats (4.6%), detached properties (1.2%) and bungalows (1.1%). In the home countries, the inflation rate in England fell from 3.7% in January to 2.8% in February, while the rate in Wales rose from 6.4% to 6.5%, in Scotland from 10.5% to 11.5% and in...