Latest Property Maintenance News

Latest Property Maintenance News

Annual house price growth in the UK has hit double digits for the first time in four years, the Nationwide has said.

In the year to April, prices rose by 10.9%, the first annual double-digit growth since April 2010 and the fastest rate since June 2007.

The news may scotch other suggestions that the housing market has been cooling over the last few months.

This week the Land Registry – which records actual sales – said prices fell by 0.4% in March.

But the Nationwide believes prices have now resumed their upward trend.

“After several months of moderation, the pace of house price growth picked up in April, with prices rising by 1.2% during the month,” said Robert Gardner, Nationwide’s chief economist.

Nationwide said the average UK house price now stood at £183,577.