UK house prices rise 10.9% in February - ONS

UK house prices rose 10.9% in February year on year, higher than estimates, according to official data released on Wednesday.

The Office for National Statistics (ONS) said the average price was £27,000 higher than a year earlier as it reached a record £277,000. Prices rose 10.2% in January.

Analysts were looking for a February increase of 10.1%.