British house rise unexpectedly in March
Friday, 3 April 2009
LONDON, Apr 2 (AFP): British house prices rose for the first time in 17 months during March, a survey by home-loans provider Nationwide showed on today.
The cost of a home in Britain increased by 0.9 per cent last month from February, leaving the average value of a home at just under 151,000 pounds (166,000 euros, 220,000 dollars), according to Nationwide.
The surprise increase also led to a reduction in the annual rate at which house prices are falling-to 15.7 per cent from a record 17.6 per cent in February.
"Spring brought a surprise bounce to house prices in March," said Fionnuala Earley, Nationwide's chief economist.
The cost of a home in Britain increased by 0.9 per cent last month from February, leaving the average value of a home at just under 151,000 pounds (166,000 euros, 220,000 dollars), according to Nationwide.
The surprise increase also led to a reduction in the annual rate at which house prices are falling-to 15.7 per cent from a record 17.6 per cent in February.
"Spring brought a surprise bounce to house prices in March," said Fionnuala Earley, Nationwide's chief economist.