A shortage of housing stock has helped to push prices up. Halifax attributed part of the rise to a rebound in prices after a 2.9 per cent fall in January DOMINIC LIPINSKI / PAHouse prices surged unexpectedly last month buoyed by a shortage of homes for sale, according to the latest survey by Halifax, the mortgage lender. The 5.9 per cent rise in February was the biggest monthly jump since at least the 1980s and well above the 0.1 per cent increase expected by economists. Britain’s biggest mortgage-lender, which has been running the monthly house price series with data covering the whole country going back to January 1983, said that part of the rise was down to a rebound in prices following a 2.9 per cent fall in January. In addition there was a disproportionate increase in house sales in southeast England, where prices are typically higher than elsewhere, and fewer homes on the market.

Source: The Times March 08, 2019 00:02 UTC