House prices were little changed in April, declining by 0.1% compared to March after taking account of usual seasonal effects, reports the Nationwide Building Society.
It found that the price of a typical home declined by 0.1% between March and April, but was 0.9% higher than April 2012.
The typical UK home is now worth £165,586.
(not seasonally adjusted)
- Seasonally adjusted figure (monthly percentage changes are revised when seasonal adjustment factors are re-estimated)
Robert Gardner, Nationwide’s chief economist, said: “There is some evidence that activity and prices have gained some momentum in recent months.
“The three month on three month measure of house prices, which is a smoother measure of the underlying trend, has been in positive territory since October last year. The annual rate of house price growth also remained in positive territory, with prices 0.9% higher than April 2012.
“Similarly, the number of mortgage approvals has edged up from the levels prevailing last year and there are reasons for optimism that activity levels will continue to strengthen in the months ahead.”