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UK house price growth slows in February

Staff Writer |
Average house prices in the UK rose 5.8% in the year to February, up from 5.3% in the year to January but still below the average annual growth of 7.3% in 2016.

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Data from the Office for National Statistics showed the average house price was £218,000, up £12,000 from the same month last year and £2,000 higher than in January.

Prices in England saw the biggest increase, up 6.3% over the year to February, with the average price now standing at £234,000.

In Wales, house prices were up 1.8% over the last 12 months to £145,000, while the average price in Scotland rose by 3.1% to £139,000.

In Northern Ireland, house prices were up 5.7% to £125,000.

London continued to be the region with the highest average house price, at £475,000, followed by the South East and the East of England, at £312,000 and £282,000, respectively.

The lowest prices were seen in the North East, with the average there at £124,000.

The East of England showed the highest annual growth, with prices up 10.3% in the year to February, while growth in the East Midlands was second highest at 7.5%.

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