Nationwide: House prices rise in February, but first-time buyer rush now may bring a property chill later | Mail Online

Nationwide: House prices rise in February, but first-time buyer rush now may bring a property chill later | Mail Online

House prices rose in February, according to Nationwide, but it cautioned that the temporary heat triggered by first-time buyers attempting to beat the stamp duty deadline may lead to a property chill later this year.

Annual house price inflation picked up to 0.9 per cent in February, as house prices rose month-on-month by 0.6 per cent – the first monthly increase since November on the index.

Robert Gardner, Nationwide's chief economist, said: ‘Given the still challenging economic backdrop this increase in housing market activity may be the result of a temporary rise in first time buyers entering the market to take advantage of the stamp duty holiday before it expires in March.