House prices high but war raises concerns

INFLATION AND RATE RISES ARE PREDICTED DUE TO CHAOS IN MIDDLE EAST.

- BY VICKY SHAW

THE average UK house price reached a new high of £301,151 in February, according to an index. Property values increased by 0.3% month on month typically, following a 0.8% rise in January, Halifax said.

The average house price increased by 1.3% annually in February.

Amanda Bryden, head of mortgages, Halifax, said: "Since the start of the year, average prices have increased by around £3,000, with a typical property now costing £301,151. These figures suggest the market has regained some momentum after a softer end to 2025."

However she added: "Looking ahead, geopolitical uncertainties seem set to influence the outlook for inflation and the wider economy.