March 1 2015 Latest news:
Wednesday, April 2, 2014
New figures show “tentative signs of moderation” to house price growth over the last three months - but average East Anglian prices have soared by 9.5pc in a year.
The Nationwide house price index for the quarter revealed that the pace of price growth slowed to 0.4pc in March, down from 0.7pc in February and 0.8pc in January.
However, house prices across the UK rose by 2.6pc over the quarter and by 9.2pc compared with the same quarter in 2013.
In East Anglia, the average house price was £179,718, a 2.9pc rise over the quarter and a 9.5pc rise on the same time last year.
The figures mean that East Anglia is now less than 5pc below its 2007 high.
Robert Gardner, Nationwide’s chief economist, said that “record low mortgage rates, improved availability of credit and the brighter economic outlook” were helping with the increased demand for housing.
The average UK house price was £178,124. The most expensive region to live in was London and the least expensive was Northern Ireland.
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