House price growth hits double figures

2nd May 2014

Annual house price growth has hit double figures for the first time in four years, according to Nationwide.

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. Robert Gardner, Nationwide's chief economist, said: “After several months of moderation, the pace of house price growth picked up in April, with prices rising by 1.2% during the month.” Nationwide said the average UK house price now stood at £183,577. Prices in the capital are now about 20% higher than they were before the financial crisis of 2007-08, said Nationwide.

Source: The Guardian (02/05/2014)