London & South East drive February house price rise
February saw house prices rise by 0.3% in England and Wales (to an average £222,456) with prices bolstered by strong demand in London and the South-East.
According to the latest LSL/Acadametrics house price index, the value of the typical home fell 0.5% year-on-year, as the strong gains seen in the early part of 2010 dropped out of the figures.
February also saw signs of recovery in the mortgage market, as the proportion of mortgages requiring a minimum 25% deposit fell to a two-year low.
At the same time, lending remained constrained with banks and building societies harbouring concerns over employment prospects, particularly in areas with high levels of public sector workers, such as northern England and Wales.
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