Housing market inflation eases in February
Britain's housing market finally appears to be putting the brakes on with the lowest reading on annual inflation for four months.
Property website Rightmove said the annual pace of growth in asking prices fell to 11.5% in February compared with 13.5% in January.
Asking prices rose 0.9% on the month in February to £224,802, double the 0.5% increase the previous month but the weakest growth for that month for five years.
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"The shock tactic of one unexpected rate rise early in the year appears to have had the desired effect. February price rises are normally two to three times higher than we have measured this month," said commercial director Miles Shipside.
London remains one of the biggest drivers for the market though asking prices in the capital rose just 1.1% in February while the annual rate of growth slipped 0.7% to 21.7%.
