House prices rose by 1.7% in February.

Figures from the Department of Communities and Local Government show that the average price of a home rose to £221,758 last month, up by 8 per cent on February last year. The Times

The figures contradict a report released by the Royal Institution of Chartered Surveyors yesterday.

It revealed sentiment in the residential market is fast approaching its worse point since the lows of the 90s’ recession.

The RICS’ latest housing market survey reported that in February 57% of surveyors reported a fall in house prices compared to 4% recording a rise.

With seasonal adjustment this means 64.1% more surveyors reported a fall rather than a rise, compared to 54.7% in January – the seventh monthly increase in succession.