Annual house price growth hits double digits
Annual house price growth reached double digits for the first time since April 2010, according to Nationwide's latest House Price Index. Nationwide says the average UK house price now stands at £183,577 - up from £180,264 a year ago. UK house prices increased by 1.2% in April and they are up 10.9% on April 2013. Robert Gardner, Nationwide's Chief Economist, said:
"A notable feature of the upturn in the housing market is that price growth has been significantly stronger in the South of England, especially in London and the South East. In the first quarter of 2014, prices in the capital were around 20% higher than their pre-crisis levels, while in the UK as a whole prices were still around 2% lower."
May 2, 2014
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