UK housing market improves in February

<p>UK house prices rose last month.</p>

New data has revealed the average cost of a home in the UK was up during February.

The latest survey from Halifax showed house prices rose by 0.5 per cent over the course of the month, indicating an improvement in the health of the sector during 2013.

Halifax housing economist Martin Ellis explained it is the third month in a row that the average house price has been shown to have gone up in the firm's research.

"This increase in both house prices and activity in recent months is consistent with evidence of some improvement in market conditions," he said.

Mr Ellis suggested one of the reasons behind the improvement in the UK's housing market could be due to the fact half a million people have been able to find employment.

Earlier in the month, data released by Nationwide claimed the average cost of a home in the UK had gone up by 0.2 per cent over the course of February.

Learn about the sterling and forex trading at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.