Nationwide plays down house price rise - Property, House & Home - The Independent
House prices increased modestly in March but the positive figures are unlikely to mark the beginning of a strong upturn for the market, Nationwide said today.
The 0.5% increase, which marked the third monthly increase within four months, left the average home costing £164,751.
Meanwhile, the three-month-on-three-month measure of house prices, which is regarded as a better measure of the underlying trend, also showed a modest rise of 0.6% in March.
But Nationwide found little cheer in the figures and warned that prices were likely to move modestly lower through 2011.
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.
"The economy entered a soft patch at the back end of 2010, and there have been few signs of a strong bounce-back.
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