UK house prices slightly higher in March

Small and steady that appears to be the level of price gains across the UK property market according to latest figures from the Nationwide House Price Index.

House prices crept up by 0.5 per cent during last month - the third increase, however slight, in the last four months. This brings the average UK property price to just over £164,750 up from £161,180 in February. House prices are now just 0.1 per cent higher than the same time last year.

Despite the recent positive increases in residential property Nationwide's chief economist - Robert Gardner - agrees with the general sentiment about the future activity within the UK's property arena - he along with many others opinion is that the market is expected to remain flat for the remainder of this year. Prices are likely to remain fairly static or even drop slightly in some regions and transaction levels are likely to remain sluggish.