ONS records provisional inflation of 5.4%
The Office for National Statistics has published its latest house price index, revealing an increase in annual house price inflation from 4.8% in January to 5.4% in February.
The average UK house price was £268,000 in February – £13,000 higher than 12 months ago.
Average house prices in the year to February increased in England to £292,000 (5.3%), increased in Wales to £207,000 (4.1%) and increased in Scotland to £186,000 (5.7%). The average house price increased in the year to Q4 (Oct to Dec) 2024 to £183,000 in Northern Ireland (9.0%).
House price growth remained flat in the month, with the index registering a 0.0% change.
Barratt Redrow progressing well
A trading update covering the 13-week period from 30 December 2024 to 30 March 2025 by Barratt Redrow has revealed a “solid private reservation performance” in ther period, at 0.62 reservations per active sales outlet per week.
During the period, the newly-merged firm also delivered 3,717 completions, bringing total home completions in its current financial year to 10,563 homes.
The housebuilder has closed, or is in the process of closing, nine divisional offices across both businesses, and will operate from 32 divisions in 2026.
The firm also announced that Chief Executive Officer Matthew Pratt will step down from Barratt Redrow on 30 June, after 22 years at Redrow.
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