Average house price at nearly £300,000 as cash transactions play their part

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The average house price across England and Wales stood at £297,832 in February, Your Move has claimed.

The price is hugely ahead of those given by the Halifax House Price Index for February at £219,949 and Nationwide’s at £205,846, although these cover mortgaged purchases only.

However, it is very close to the average asking price currently quoted by Zoopla, of £299,764 and not far adrift of Rightmove’s average asking price of £306,231.

Despite the high price tag quoted by Your Move and a 0.6% monthly rise on January’s figures, it says annual house price inflation in England and Wales fell for the 12th consecutive month in February to 2.4%, the lowest rate since 2013.

The agent also estimates that transactions in England and Wales in February are 62,000, down just 0.4% on January.

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Written by: Houseladder