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UK house prices dipped sightly in February from January, but annual growth continued, data published by mortgage lender Halifax showed on Friday. The average UK house price stood at £298,602 in February, down 0.1% from £298,815 in January. On-year, house prices were up 2.9% in February, the same annual pace of growth as in January. Halifax said that shortages and affordability challenges persist in the UK housing market. ‘February’s figures highlight the delicate balance within the UK housing market,’ said Halifax Head of Mortgages Amanda Bryden. ‘While there’s been talk of a last minute rush on new mortgages ahead of the changes to stamp duty, inevitably we’ve seen some of the demand that was brought forward start to fade as the April deadline ticks closer, given the time needed to complete a purchase.’ She added: ‘While house price growth has slowed overall, market activity remains strong and comparable to pre-pandemic levels, demonstrating a resilience amongst buyers that‘s been evident in the face of higher borrowing costs.’ In Scotland, annual house price growth accelerated to 3.8% in February from 2.5%, while in London it slowed to 1.6% from 2.6%. The average February house price stood at £545,183 in London, at £226,811 in Wales, at £213,014 in Scotland, and at £205,784 in Northern Ireland, according to Halifax. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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