House prices are 'treading water' | Money | guardian.co.uk

House prices are 'treading water' | Money | guardian.co.uk

House prices have trodden water during the past year, with property in the UK just 0.3% lower in value this month compared to September 2010, according to the Nationwide building society.

Its latest figures show that prices rose 0.1% during September, while the three-month-on-three-month figures, which are generally considered a better indication of trends, have remained static. The average house price in September was £166,256, compared to £165,914 in August.

Robert Gardner, Nationwide's chief economist, said: "Sluggish demand for homes on the back of weak labour market conditions - combined with only a gradual rise in the supply of available properties - has helped to keep property prices fairly stable since the summer of 2010.