UK Housing Market Update! House Prices Drop as Rents Skyrocket – What You Need to Know!"

 In February, British house prices experienced a 0.2% annual decline, following a revised 1.3% drop in January, according to the Office for National Statistics report released on Wednesday.

Meanwhile, the ONS reported a notable increase in private rents, rising by 9.2% in the year leading up to March, marking the largest surge since records began in 2015. This uptick follows a 9.0% rise in rents over the 12 months to February.

(Reported by Suban Abdulla; Edited by Andy Bruce)