UK Home Prices Returned to Growth Before War, Official Data Show

The UK housing market was picking up pace just before the Iran war dashed hopes of lower interest rates and dented sentiment, official data show.

Average home values reached £269,296 ($364,340) on a seasonally adjusted basis in February, an increase of 0.6% after two months of declines, the Office for National Statistics said Wednesday. It left prices 1.2% higher than a year earlier and less than £1,000 short of their all-time peak.