Average price up by 0.3pc on last year
HOUSE prices in the UK are slightly higher than a year ago, according to the government’s house price index.
The Office for National Statistics (ONS) said prices in February had risen by just 0.3 per cent over the past year.
Prices rose in London, the South East and Scotland, but fell in Northern Ireland, Wales and the North East.
Housing market activity and prices were helped early in 2012 by first-time buyers looking to complete before the stamp duty concession ended on March 24.
The average price of properties bought by first-time buyers was up by 1.3 per cent year-on-year in February, while prices were flat for properties bought by existing owners.