CPS Homes

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

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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