House prices rise by 0.4% in February

Its latest survey also reveals the average house price now stands at £161,700, while the number of buyers registering for agents has risen by 26% over February. Richard Donnell, director of research at Hometrack, says: “A key driver of higher house price inflation over February has been a surge in the number of new buyers coming to the market. However, it is a general shortage of homes for sale that really underpins the growth in average values over the last month.” This trend is most obvious in the southern parts of the country, where London prices have risen by 0.9% on the back of a 3...