March sees 0.5% house price increase

House prices in March edged up by 0.5%, it has been found.

March witnessed a 0.5% increase in house prices, it has been shown.

According to Nationwide, costs rose by 0.6% on the three month on three month measure, resulting in prices currently standing at 0.1% higher than they did a year ago.

Robert Gardner, chief economist at the organisation, observed that the fees have now escalated - although modestly - in the three of the last four months.

The industry figure claimed the outlook remains unclear but suggested these findings could see the start of a considerable upturn in prices.

He said: "The economy entered a soft patch at the back end of 2010, and there have been few signs of a strong bounce-back."

Despite demand remaining fairly soft, a rapid increase in property supply is unlikely, Mr Gardner added.

According to the Land Registry's House Price Index, house prices in England and Wales dipped by 0.8% In February, marking a 1.7% annual cost decrease.

Article taken from Houseladder.com

05 April 2011

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