UK house prices rise 0.8% in February - Rightmove

The average asking price of a UK home rose 0.8% on the month in February, or £2,414 to £300,001, following a 0.7% jump the month before, according to figures released by Rightmove.

On the year, house prices were up 1.5% compared to a 1.1% increase in January.

The survey found that all regions saw the price of newly-marketed property rise in February, with the exception of the South West, where prices fell £131 on average. Meanwhile, the average annual rate of increase remained subdued at just 1.5%, dragged down to a degree by a 1% year-on-year drop in London.

Rightmove director Miles Shipside said: “Whilst it is the norm for new sellers’ asking prices to be buoyant at the start of a new year, this first complete month in 2018 is seeing more pricing optimism than the comparable period in 2017.

"The political and economic uncertainty is out of sellers’ control, but they are in control of their asking prices, and in general they are not being overly ambitious or setting too high an asking price. This month’s rise of 0.8% is well below the 1.6% monthly average at this time of year over the last ten years, and it is wise for sellers to be cautious and not to overprice given stretched buyer affordability."