House Prices Rise In March According To Nationwide

 

Nationwide Building Society have this month reported a rise in UK house prices.

According to the company's report, March 2011 has seen prices increase by a figure of 0.5%, with an average value of £164,751. On an annual basis, a 0.1% change in values was also evident in the UK during March.

Chief Economist at Nationwide, Robert Gardner, commented on some of the potential trends which may now be experienced by the housing market for the remainder of the year.

He stated: "While demand is likely to remain fairly soft, a rapid increase in the supply of properties also appears unlikely. Low interest rates and a stabilisation in labour market conditions have prevented a rise in forced selling, and the subdued market outlook is deterring many sellers from entering the market."

Nationwide's March data is in contrast with February's research, which indicated an annual price change of -0.1%, a monthly change of 0.7% and an average price of £161,183.


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