(Alliance News) - UK house prices decreased year-on-year in February, though at a slower pace than in January, according to the official measure by the Office for National Statistics.

The ONS said the average UK house price fell 0.2% annually in February, easing from a 1.3% slide in January.

The average UK house price stood at GBP281,000 in February, the statistics agency said.

More recent data from mortgage lender Halifax earlier this month showed annual growth in UK house prices slowed in March.

UK house price growth ebbed to 0.3% year-on-year in March, Halifax said, from a 1.6% hike in February.

By Eric Cunha, Alliance News news editor

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