House prices rise 1.2 percent month-on-month in March - DCLG

Published 17th May 2011

House prices rose by 1.2 percent on a seasonally-adjusted basis in March, taking the year-on-year rate of growth to 0.9 percent, government figures showed on Tuesday.

The Department for Communities and Local Government said the average price of a home stood at 205,565 pounds in March.

The DCLG data is based on a sample of mortgage completions data from the Regulated Mortgage Survey, collected by the Council of Mortgage Lenders, and is less timely than house price data from individual mortgage lenders Halifax and Nationwide, which are based on mortgage approvals.

Source: ' Reuters '

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