UK house prices steady in April

House prices in the UK remained at a steady level over the course of last month, according to data released by Nationwide.

Figures revealed in the Nationwide April monthly House Price Index showed a 0.1 per cent decline in house prices during the month, though the average amount paid for a home was almost one per cent up on a year ago.

The typical UK home was shown to be now worth £165,586 and chief economist for Nationwide Robert Gardner stated there is some evidence in the report that activity and prices have gained some momentum in recent months.

He said: "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."

Research conducted by Lloyds TSB recently showed sales of £1 million properties are higher than any point in the last five years. However, £1 million sales in 2012 were still ten per cent lower than in 2007.

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