U.K. house prices were unchanged in February, with London dragging on prices at a national level, the Royal Institution of Chartered Surveyors, or RICS, said in a report.
The national price balance was flat for the period, marking the ninth straight month that headline prices reflected little change, the report said.
London, East Anglia, the South East and the North weighed on prices, while Wales, the North West, Northern Ireland and the East Midlands recorded strong price readings.
Prices and rents are seen growing by approximately 15% at the end of a five-year period, but the pace of growth in rents is expected to outpace that in prices.
New buyer inquiries, an indicator of demand, slipped for the 11th straight month, with declines seen in London, the South East and the East Midlands.
In contrast, growth in new buyer inquiries was recorded in Scotland, Northern Ireland, Yorkshire and Humberside.
Meanwhile, the newly agreed sales net balance remained in the negative territory.
The elimination of stamp duty charge for first-time buyers failed to have a significant impact on overall demand, RICS noted.
