India, Feb. 17 -- House prices in the U.K. increased at a slower pace in February as sellers reduced their price expectations amid the looming stamp duty deadline and high competition, property website Rightmove said on Monday.
The average asking price of property grew only 0.5 percent in February, slower than the 1.7 percent increase in January, survey results by Rightmove showed.
On a yearly basis, growth in house prices weakened to 1.4 percent from 1.8 percent in January.
Rightmove said there were more than 550,000 homes sold yet awaiting legal completions. This was 25 percent more than at this time last year.
Further, weakening the bargaining power of sellers, the average number of properties for sale per estate agency branch contin...