LONDON (Reuters) - British house prices fell unexpectedly last month but were still almost 10 percent higher than a year ago, mortgage lender Halifax said on Thursday.
House prices fell 1.4 percent in February, reversing much of January’s 1.7 percent increase, compared with a forecast for zero growth in a Reuters poll. Annual house price growth was steady at 9.7 percent in the three months to February.
Despite February’s fall, Halifax said house prices were likely to continue rising at a robust pace because of an imbalance between supply and demand.
Earlier on Thursday, rival mortgage lender Nationwide reported that house price growth picked up speed in annual terms last month.
Reporting by Andy Bruce; Editing by Kevin Liffey