4 Mar

UK house prices rise by 0.2 per cent

UK house prices rise by 0.2 per cent

The average price of UK houses rose again in February, as the decent start to the year continued, and predictions grew for a positive 2013 overall.

The latest figures from Nationwide showed that the cost of purchasing had remained static in the 12 months to the end of February 2013, sitting at £162,638.

However, while annual figures showed no improvement, the report showed that homes were 0.2 per cent more expensive than they were in January.

Robert Gardner, Nationwide's chief economist, said: "While activity in the housing market remains subdued by historic standards, there have been tentative signs of a pick up in recent months. The Funding for Lending Scheme has achieved some success in bringing down mortgage rates, with encouraging signs of an improvement in credit availability."

He added that the fact unemployment is easing at the best rate since the 1990s means that prices may increase further throughout the rest of the year.ADNFCR-1222-ID-801550472-ADNFCR

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