UK house price rise is fastest in two years

UK house prices jumped by 5.4% in the year to February the fastest rate in more than two years, new figures show.

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The annual rate increased from 4.8% in the year to January, according to data from the Office for National Statistics.

House price growth has accelerated since last summer, while activity has picked up as buyers rushed to beat stamp duty increases. Across the country, house prices were higher in February, compared to a year earlier.