Nationwide: House prices go up (or should that be down?)

Nationwide: House prices go up (or should that be down?)

The average price of a house in the UK is now £165,586, Nationwide has reported.

It says that the price, for April, is a 0.1% dip on March.

However, removing ‘seasonal adjustment’ means that Nationwide actually reported an uplift in house prices from £164,630 in March.

Robert Gardner, Nationwide's chief economist, said: “House prices were little changed in April, declining by 0.1% compared to March after taking account of usual seasonal effects. 

“Nevertheless, there is some evidence that activity and prices have gained some momentum in recent months. 
“The three month on three month measure of house prices, which is a smoother measure of the underlying trend, has been in positive territory since October last year. 

“The annual rate of house price growth also remained in positive territory, with prices 0.9% higher than April 2012.
“Similarly, the number of mortgage approvals has edged up from the levels prevailing last year and there are reasons for optimism that activity levels will continue to strengthen in the months ahead.”