House prices edged slightly higher in February 2011

 

 

House prices edged ahead by 0.3% in February as the property market continued to “tread water”, Nationwide said today.

 

The increase, which was only the second gain recorded since May last year, left the average home costing £161,183.

But the group saw little reason to be optimistic, saying it expected the housing market to be “sluggish” during 2011.

Annual house price inflation remained in negative territory, with prices 0.1% lower than in February last year, although this was a slight improvement on the fall of 1.4% seen in the year to the end of January.

 

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