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UK Financial News From the latest UK financial news, and interesting articles about insurance, credit cards, and other useful tidbits, to special offers, and revealing finance tips from the experts, the stories and news items we display here will help to keep you informed.

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Articles   >>   House prices slip in the winter snow during February

House prices slip in the winter snow during February

Friday, February 26 , 2010


Date issued: 26 Feb 2010 Nationwide Building Society: www.Nationwide.co.uk

  • House prices fell by 1.0% month-on-month in February
  • Price decline may be explained by snowy weather and expiry of stamp duty holiday
  • Too early to say whether February's drop is start of a new trend
Headlines February 2010 January 2010
Monthly index * Q1 '93 = 100 327.1 330.2
Monthly change* -1.0% 1.4%
Annual change 9.2% 8.6%
Average price £161,320 £163,481

* seasonally adjusted

Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said:

"The price of a typical UK property fell by a seasonally adjusted 1.0% month-on-month (m/m) in February, ending a strong run of nine consecutive monthly increases. The relatively smoother three month on three month rate of inflation remained positive at +1.6%, though this is down from +2.0% in January and a peak of +3.7% in September 2009. The annual rate of price inflation still managed to increase from 8.6% to 9.2% year-on-year, as this month's fall was smaller than the 1.5% m/m decline recorded in February 2009. The average price of a typical property sold in the UK during February was £161,320."

For further information please see our February 2010 report (PDF 88KB).



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