India, Feb. 28 -- UK house prices increased more than expected in February as buyers brought forward their transactions ahead of stamp duty change in April, the Nationwide Building Society said on Friday.
House price grew at a pace of 0.4 percent on a monthly basis in February after a 0.1 percent gain in the previous month. Moreover, this was the sixth consecutive monthly increase and was also faster than forecast of 0.2 percent. On a yearly basis, house prices growth softened to 3.9 percent from 4.1 percent in January. The annual growth was expected to ease more sharply to 3.4 percent.
Nationwide's Chief Economist Robert Gardner said despite housing affordability challenges, housing market activity remained resilient in recent months. No...