Investing.com - House prices in the U.K. fell more than expected in February, dampening optimism over the health of the housing market, industry data showed on Thursday.
In a report, the Halifax Bank of Scotland said its House Price Index declined by a seasonally adjusted 0.3% last month, worse than expectations for a 0.2% drop.
U.K. house prices increased 1.9% in January, downwardly revised from a previously reported gain of 2.0%.
House prices in the three months to February were 8.3% higher than in the same three months a year earlier, below forecasts for a gain of 8.5% gain and down from an increase of 8.5% in January.
GBP/USD was trading at 1.5247 from around 1.5251 ahead of the announcement, while EUR/GBP was at 0.7250 from 0.7248 earlier.
Meanwhile, European stock markets were modestly higher after the open. London’s FTSE 100 eased up 0.1%, the EURO STOXX 50 tacked on 0.3%, France’s CAC 40 rose 0.3%, while Germany's DAX advanced 0.35%.