House price gains fall to five-year low - papers 19th Feb

According to Rightmove, the 0.9% rise in February was much lower than the average 2% gain seen in the same month in previous years. For the year to February, house prices rose 11.5p% compared to a 13.5% gain in January, says the paper. Miles Shipside, commercial director of Rightmove, says: “The shock tactic of one unexpected rate rise early in the year appears to have had the desired effect. February price rises are normally two to three times higher than we have measured this month." Nationwide and Halifax, the country’s two biggest mortgage lenders, are both forecasting the hous...