Fastest house price rise in five years is “approaching madness”

UK house prices rose at the fastest rate in five years in February, going up by 2.4% – far outstripping expectations.

According to the Halifax House Price Index, prices also rocketed 7.9% year-on-year to an average of £179,872.

Speaking in the Telegraph, Oliver Atkinson, director at urbansalesandlettings.co.uk, said in parts of Britain “the momentum is approaching madness, as price rises continue to accelerate”.

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