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28/03/2013
UK House Prices Increase
Latest figures from the Nationwide have revealed UK house prices in March increased by 0.8% when compared to a year earlier.
The building society added that this was the first annual increase since February 2012.
Prices for March remained unchanged compared with the previous month.
The survey found the average cost of a UK home is now worth £164,630.
Nationwide said demand from buyers had been helped due to lower mortgage costs and a better job market, but said the outlook was "unusually certain".
On a three-month-by-three-month comparison, prices increased by 0.2% over the past year.
Robert Gardner, Nationwide's Chief Economist, said: "In recent months, buyer demand has been supported by healthy rates of employment growth, as well as the Funding for Lending Scheme, which has helped to reduce mortgage costs and increase credit availability."
In separate findings, the Land Registry has said prices in England and Wales rose by 1% over the last year, with London seeing the sharpest increase with 6.3%.
Yorkshire and Humberside saw the biggest annual fall, with prices dropping by 0.9%
(JP/CD)
The building society added that this was the first annual increase since February 2012.
Prices for March remained unchanged compared with the previous month.
The survey found the average cost of a UK home is now worth £164,630.
Nationwide said demand from buyers had been helped due to lower mortgage costs and a better job market, but said the outlook was "unusually certain".
On a three-month-by-three-month comparison, prices increased by 0.2% over the past year.
Robert Gardner, Nationwide's Chief Economist, said: "In recent months, buyer demand has been supported by healthy rates of employment growth, as well as the Funding for Lending Scheme, which has helped to reduce mortgage costs and increase credit availability."
In separate findings, the Land Registry has said prices in England and Wales rose by 1% over the last year, with London seeing the sharpest increase with 6.3%.
Yorkshire and Humberside saw the biggest annual fall, with prices dropping by 0.9%
(JP/CD)
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Northern Ireland WeatherToday:There will be a mix of sunny spells and a few, mainly light, showers during the morning, mostly in the west. Cloudier with scattered showers into the afternoon. Maximum temperature 11 °C.Tonight:Scattered showers and clear spells continue through this evening, becoming dry with clear skies for a time overnight. Clouding over by morning. Minimum temperature 2 °C.
