House prices grew at their fastest pace for a year during the month of February according to agents, LSL Property Services.
LSL agents saw average prices across England and Wales increase by 0.6% in February, double the rate they recorded in January.
The East of England, Merseyside and Birmingham performed best.
The average property price in England and Wales now sits at £297,832 according to LSL's data.
Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents (part of LSL), comments:
Oliver Blake, Managing Director of Your Move and Reeds Rains estate agents (part of LSL), comments:
“It’s an encouraging start to 2017. We’ve seen the strongest house price growth in a year, the emergence of the promised Northern Powerhouse and the first tentative signs of a recovery in our highest priced properties in London.
The good news too is that the number of first time buyers grew last year and house building was up – although home ownership is now at its lowest level in over three decades."
The good news too is that the number of first time buyers grew last year and house building was up – although home ownership is now at its lowest level in over three decades."
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