UK house prices rise for first time in over a year, lender Nationwide says

British house prices in February rose in annual terms for the first time in more than a year, figures from mortgage lender Nationwide Building Society showed on Friday.

House prices last month were 1.2% higher than in February 2023, the first annual increase since January 2023, Nationwide said. Prices rose by a monthly 0.7% between January and February this year, it said.

A Reuters poll of economists had pointed to a rise of 0.7% in annual terms and a month-on-month increase of 0.3%.