A survey has shown that British house prices rose at their fastest rate in four months in February, suggesting the property market remains resilient to higher borrowing costs.
HBOS's Halifax house price survey showed house prices rose 1.8% in February. That compared with an upwardly revised gain of 1.4% in January, and was the biggest monthly rise since October.
The three-month annual rate of house price inflation held steady at 9.9% for the third month running. The figures chimed with a survey from rival mortgage lender Nationwide which showed the housing market remained in good health despite three interest rate rises by the Bank of England since August.
