Martin Gahbauer, chief economist of Nationwide informed that the price of an average house in UK increased by 0.7% in March, for the most part recovering from the 0.8% dip registered in February. At the moment, the average UK house price is £164,519, which is a 9% improvement from March 2009.

The quarter comparison rate of inflation gradually moved down from 1.8% in February to 1.6% in March.

The results of the last two months didn’t come as a surprise, conformable with a rather flat profile for house prices, and consistent with the recent downslide in buyer enquiries and property sales.

It has been revealed that the number of loans obtained by house buyers didn’t change much from January's sudden decline, indicating that decreased house sales at the start of 2010 were caused by something else than the bad weather, as it was supposed by Nationwide earlier.

Because of greater than always economic unclearness brought about by the impending general election, potential homebuyers exhibit caution.

As for the number of houses for sale, there was no considerable rise, which suggests that the impact of decreased buyer activity on house prices has turned out to be not so bad after all. If this trend doesn’t stop, a relatively small number of houses will change their owners, but the prices will be rather stable.

In addition, separate regional figures were revieled by Nationwide. According to them, in most regions of UK prices increased by 1.6% over the first three months of 2010, with Greater London being the leader.

The north-west remained the worst performing UK region, having experienced a 0.4% drop.


Articles

The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.