House prices rise in March

There was good news for DIY house selling this month, as the latest figures show that property prices have increased slightly.

Compared to February, prices rose by 0.5 per cent, Nationwide revealed, while a year-on-year increase of 0.1 per cent was recorded.

Robert Gardner, Nationwide's chief economist, said: "The outlook remains uncertain, but all things considered, this is unlikely to mark the beginning of a strong upturn in prices."

He emphasised that there are still some pressures acting on the market, such as labour market conditions and a subdued outlook for property as a whole.

The latest Rics Housing Market Survey suggested that there is still a north-south divide in the English property market, with those in London faring much better than in other parts of the country.

Yorkshire and Humberside appears to be struggling in terms of house price expectations compared to many other regions.

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Published on: March 31, 2011

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