House prices rise for sixth month in a row – Nationwide

February figures from the Nationwide reveal that UK house prices have grown for six consecutive months. The cost of an average UK home grew by 0.4% last month to £270,493, despite an otherwise slow economy. According to the Nationwide, annual prices grew by 3.9% – slightly below January’s 4.1% rise. 

The house price index from the Nationwide, Britain’s biggest building society, is the earliest monthly market measure, followed by figures from the Halifax and the Land Registry. January figures from the Halifax saw prices up 0.7% on the previous month and a 0.3% annual rise. 

Increased activity in the market has been attributed to a rush to beat the end of temporary cuts to stamp duty for some buyers. From 1 April 2025, the threshold at which the tax is paid drops from £250,000 to £125,000 and from £425,000 to £300,000 for first-time buyers. 

While increases haven’t reached the post-pandemic levels of 10%+ seen in summer 2022, Robert Gardner, Nationwide’s chief economist said house prices have been steadily accelerating. “Housing market activity has remained resilient in recent months, despite ongoing affordability challenges,” he said. 

“The changes to stamp duty at the start of April are likely to generate volatility in transactions in the near term, as buyers bring forward their purchases to avoid the additional tax,” he added. 

Meanwhile, figures from property website Rightmove reveal the UK drive to move home was stronger than ever in 2024. According to the website, people spent 16.4 billion minutes on Rightmove last year, up 6% on 2023, making it the country’s fourth-busiest website, behind the likes of the BBC and Gov.uk. 

Read more about this story on the Guardian website.