The average cost of a home in the UK rose by only £14 this month as the housing market entered a period of “greater realism” on price.
Figures from Rightmove, the property website, suggest the average house price in the UK is £362,452, up 3.9 per cent from last year.
Prices for newly listed homes remained flat between January and February, while interest from buyers was up 11 per cent compared with the same period in 2019, before the pandemic struck, the figures showed.
House prices usually rise at the start of a calendar year as more homes enter the market and sellers try to bid up in expectation of higher demand.
Tim Bannister from Rightmove said that the figures showed that many sellers were