U.K. House Prices Rise 2.8% From Year Ago, Halifax Says

(Bloomberg) --

U.K. house prices rose for a fourth straight month in February, continuing the recent run of reports pointing to renewed strength in the property market.

Average house prices rose 0.3% from January to 240,677 pounds ($312,000), Halifax said in a statement on Friday. From a year earlier, prices increased by 2.8%.

The vote to leave the European Union in 2016 cast a shadow over the property market for years, but now there are signs of pent-up demand. Most indicators showed a bounce at the start of the year, though the coronavirus and continued Brexit uncertainty are clouding the outlook.

“The sustained level of buyer and seller activity is strong compared to recent years,” said Russell Galley, managing director at Halifax. “Looking ahead, there are a number of risks, including the potential impact of coronavirus, which continue to exert pressure on the economy.”

To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, David Goodman

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