Britain's house prices rise for sixth consecutive month in February
People walk on the Westminster Bridge in London, Britain, Nov. 23, 2024. (Xinhua)
Transaction levels remained below those recorded in 2019 before the pandemic.
LONDON, Feb. 28 (Xinhua) -- Britain's house prices increased by 0.4 percent month on month in February, data from Nationwide, the country's largest building society, showed on Friday.
House prices have now risen for six consecutive months. The average price of a home purchased through Nationwide reached 270,493 British pounds (340,784 U.S. dollars).
The annual rate of house price growth remained broadly stable in February at 3.9 percent, compared with 4.1 percent in January, according to Nationwide.
"Housing market activity has also remained resilient in recent months, despite ongoing affordability challenges," said Robert Gardner, Nationwide's chief economist.
A woman walks on the Westminster Bridge with the London Eye in the background in London, Britain, on Dec. 8, 2024. (Xinhua/Li Ying)
However, transaction levels remained below those recorded in 2019 before the pandemic.
Gardner noted that with stamp duty increases set to take effect in early April, buyers are expected to accelerate their purchases to avoid the additional tax, which is likely to result in a surge in transactions in March. (1 British pound = 1.26 U.S. dollar)
Photos
A look at the festive vibes of Tibetan New Year in a Lhasa market, SW China's Xizang
Distinctive view of Wumao Earth Forest in SW China's Yunnan
World's largest indoor ice-and-snow theme park reopens in Harbin, China's Heilongjiang
Hotan county in Xinjiang makes significant progress in combating desertification, sees economic benefits
Related Stories
- Britain's King Charles III diagnosed with cancer -- Buckingham Palace
- China-Britain cooperation highlighted at business forum
- Interaction and resonance between eastern and western cultures
- China expects stable, mutually beneficial ties with UK: vice premier
- UK unveils new budget with tax hikes of 40 bln pounds
Copyright © 2025 People's Daily Online. All Rights Reserved.