UK house prices rise as mortgage rate cuts lift confidence

UK house prices picked up in February from the previous month as recent reductions in mortgage rates helped to stabilise the market, according to the lender Halifax.

The average house price rose 1.1% to £285,476 last month compared with January, in a sign of resilience amid hopes the broader economic downturn will not be as severe as previously feared.

It followed a monthly gain in house prices of 0.2% in January and a fall of 1.3% in December, according to Halifax, which is part of Lloyds Banking Group. The annual growth rate remained at 2.1% for a third month.

Real Estate Credit Investments Limited (LON:RECI) is a closed-ended investment company which originates and invests in real estate debt secured by commercial or residential properties in Western Europe, focusing primarily on the United Kingdom, France and Germany.

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