House prices increased by 2.2% in March
House prices increased by 2.2% in March, according to the latest Halifax House Price Index.
This follows a monthly fall of 0.4% in February and a drop of 0.1% in the three months leading to March.
The average UK house price is £163,803, virtually the same level as in July 2011.
Prices in the first three months of 2012 were 0.6% lower than in the same period last year.
Martin Ellis, housing economist at Halifax, said: “House prices in the first quarter of 2012 were little changed compared with the final quarter of 2011, showing a decline of just 0.1%. This was the same as the slight fall recorded between the third and fourth quarters of 2011.
The underlying trend therefore indicated broad stability in UK house prices. The more volatile monthly figures continue to fluctuate as a result of the historically low level of sales volumes, increasing by 2.2% in March following February's 0.4% fall.â€
April 5, 2012
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