United Kingdom: Home prices increase again in February
March 1, 2013
In February, the price of a typical U.K. home increased a seasonally adjusted 0.2% over the previous month, according to data published by mortgage lender Nationwide Building Society (NBS). The figure came in below the 0.5% increase registered in January but came in line with market expectations.
According to Nationwide, "while activity in the housing market remains subdued by historic standards, there have been tentative signs of a pick up in recent months. The Funding for Lending Scheme has achieved some success in bringing down mortgage rates, with encouraging signs of an improvement in credit availability".
Compared to the same month last year, home prices remained flat for the second straight month.