House prices increased at the fastest annual pace since 2007 in February to hit a record high, according to Halifax.
At 10.8 per cent, the annual rate of property price growth was the strongest in 15 years, the bank said. The increase took the average house price across the country to a new high of £278,123. Property values increased by 0.5 per cent month on month.
Halifax's Russell Galley said: 'This was an eighth successive month of house price growth, as the resilience which has typified the market throughout the pandemic shows little sign of easing. This is the biggest one-year cash rise recorded in over 39 years.