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UK housing affordability improves at fastest pace in 8 years

Staff Writer |
UK housing affordability improved at the fastest pace in eight years in February, but annual house price growth remained weak, survey data from Rightmove showed on Monday.

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UK's annual average wage growth of 3.4% outstripped asking prices at the fastest rate since 2011, the survey found.

Average asking prices rose 0.7% month-on-month in February, after a 0.40% rise in January.

Prices rose for a second straight month in February.

Compared to the same month a year ago, house prices were 0.2% in February, which was the weakest pace since 2009.

The weak house price growth suggest that sellers are pricing property cautiously in a sluggish market, whose prospects are marred by the uncertainty linked to Brexit.

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