The annual rate of house price inflation eased slightly in March, the Nationwide building society today said. Prices across the UK rose by 0.7% in the month, taking the cost of the average UK home to £164,519. That was 9% higher than a year ago, a rise of nearly £14,000 on the average.
The recovery in the housing market continues to be strongest in southern England, with London leading the way with house price growth of 2.5pc during the first quarter of 2010, while prices rose by 2.3pc in the South West.
Further good news on the mortgage front - mortgages aimed at first-time buyers that require a 10% deposit are to be offered by a revamped Post Office, the government announced yesterday. The institution will start to offer financial products from its network of 11,500 branches within the next year. Source BBC & Daily Telegraph News 30.03.10
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