British house prices were up 9.8 per cent in February compared with the same month a year ago to reach their highest levels since October 2003, according to government data published today.
In January, house prices rose 9.7 per cent year-on-year, but despite the annual gain, the monthly comparison showed a different picture, with prices down 1 per cent from January.
The average house price stood at a three-month low of £160,937 sterling in February, down from £162,559 in January.
In London, annual house price inflation rose to 5.7 per cent from 5 per cent in January.