The figures suggest a relatively stable start to 2024 but there could possibly still be a slowdown in the housing market this year.

London house prices have increased 1.5 per cent, the first positive annual growth seen since January.

According to the Halifax House Price Index, the average house price in the capital currently stands at £536,996.

The average UK house price increased by 0.4 per cent in February, marking the fifth monthly rise in a row, according to an index.

Property prices grew by 1.7 per cent on an annual basis, compared with 2.3 per cent the previous month. The average UK house price was £291,699 in February, around £1,000 more than the previous month.