UK house prices rise in March
Halifax, one of the leading UK banks has reported a rise in house prices during March after the reported fall in February. The recent rise has increased the annual rate of house price inflation by 1.1% pushing the overall figure for 2010 to 5.2%. The average cost of a house in the UK is now £168,521, which is around £11,000 more than this time last year.
It was this time last year when the UK witnessed the lowest drop in house prices with the average house costing 9.1% less than it does now.
A spokesperson for Halifax said: "Prices in the first three months of 2010 were 0.6% higher than in the final quarter of 2009. There are signs that an increase in the number of properties available for sale is beginning to reduce the imbalance between supply and demand. This should help to contain the upward pressure on house prices."
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