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03.03.2016 10:47 Nationwide: UK house prices rise 0.3% in February

The Nationwide Building Society released its house prices data for the U.K. on Thursday. UK house prices were up 0.3% in February, missing expectations for a 0.5% rise, after a 0.3% increase in January.

 

On a yearly basis, house prices rose to 4.8% in February from 4.4% in January. Analysts had expected house prices to rise by 5.0%.

 

"Much of the increase is likely to be related to the impending increase in Stamp Duty on second homes which is due to take effect in April 2016. This is likely to have brought forward a significant number of purchases, which in turn will probably result in a fall back in approvals during the spring/summer, Nationwide's Chief Economist, Robert Gardner, said.



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