Prices recover in February on supply shortage

for sale sign (2)

But latest Rightmove data show asking prices remain below level seen in July last year

House prices have recovered slightly in February according to online property portal Rightmove, with buyer demand proving resilient to the imminent withdrawal of the stamp duty holiday.

The firm said its monthly housing market index showed that buyers were returning to the market more quickly than sellers, supporting a 0.5% rise in prices on the January index, despite buyers not having a chance of completing purchases before the end of the stamp duty holiday on March 31.

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