United Kingdom: Home prices rise in February
March 5, 2012
In February, the price of a typical property in the U.K. rose a seasonally adjusted 0.6% over the previous month, according to data collected by the Nationwide Building Society (NBS). The reading contrasted the 0.3% decline observed in January. In annual terms, home prices increased 0.9%, up from the 0.6% increase recorded in the previous month. According to the NBS, February's uptick adds to other ?data releases suggesting that economic conditions may not be quite as weak as feared?. Nevertheless, the NBS stated that it is still early to assess whether the positive trend will continue and warned that the improvement ?may be the result of a temporary rise in first time buyers entering the market to take advantage of the stamp duty holiday before it expires in March?.