Affordable housing

UK house price growth subdued in March

For sale signs
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Annual house price growth remained soft at 0.7% in March, according to Nationwide.

The average price of properties was £213,102, compared to £211,304 in February.

London remained the weakest performing region, with prices 3.8% lower than the same period in the previous year. It also marked the seventh consecutive quarter where prices have been in decline.

However, across the South of England, house prices are now well above peak prices prior to the financial crisis, and in Scotland, Wales and the North of England, house prices are close to 2007 levels.

“While the number of properties coming onto the market has also slowed, this doesn’t appear to have been enough to prevent a modest shift in the balance of demand and supply in favour of buyers in recent months," said Nationwide's chief economist Robert Gardner.