The UK Halifax House Price Index fell -0.1% MoM in February, a surprise drop when a 0.3% MoM increase was expected.

• The quarterly increase was 1.0% QoQ, down from 1.6% QoQ in January, and the annual increase was 2.9% YoY, down from 3.0% YoY previously.
• Average property price is now £298,602, down from £298,815 in previous month.
• Halifax: “February's figures highlight the delicate balance within the UK housing market. While there’s been talk of a last minute rush on new mortgages ahead of the changes to stamp duty, inevitably we’ve seen some of the demand that was brought forward start to fade as the April deadline ticks closer, given the time needed to complete a purchase.”