House prices up again in March
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House prices picked up again in March, adding further credence to suggestions that the market is strengthening from a weak 2005.
The Nationwide building society said prices rose by 1.1% in March, pushing the annual rate of inflation back up to 5.3%. In the three months to March prices were 2.2% higher.
Nationwide said the average UK property now costs £162,000.
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Chief economist Fionnuala Earley said, "The pick up in prices in March continues the upward trend we have seen since the autumn, which has been supported by a solid return of buyers".
Early added though that other pressures may constrain the market. "Utility and council tax bills are rising and on top of this, affordability continues to be squeezed as house prices rises further".
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