House prices on the rise in the North East

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HOUSE prices climbed by 1.9 per cent year-on-year in February, with the North East among the regions which saw the biggest annual increases, official figures show.

On a month-on-month basis, prices held steady at £233,000 on average across the UK, following a 0.7 per cent dip in January, the Office for National Statistics (ONS) said.

Its latest report highlighted the continued patchy performance of the market across the UK. Prices were up by 2.1 per cent in England to reach £242,000 on average, while in Wales they climbed by 4.1 per cent to around £160,000.

The North West was the only region to see house prices fall year-on-year, with a 0.1 per cent dip.

London, the North East and the South East saw the biggest annual increases, at 5.9 per cent, 2.4 per cent and 1.4 per cent respectively.