House prices in the three months to February were 5.1% higher than in the same period a year ago; down from 5.7% in January.

Prices in the three months to February were 1.7% higher than in the preceding quarter.

Martin Ellis, Halifax housing economist, said: "House prices in the three months to February were 1.7% higher than in the previous quarter; down from 2.3% in January. The annual rate of growth fell to 5.1% from January's 5.7%, the lowest since July 2013. "Housing demand is being supported by an economy that continues to perform well with employment still expanding. Meanwhile, the supply of both new homes and existing properties available for sale remains low. This combination is pushing up prices".