Slight bounce in housing market
April Fools Day may have passed but it appears the housing market has caught experts off guard by showing a slight improvement last month.
Figures released today (April 2nd) by Nationwide show a 0.9 per cent increase in the average price of a home between February and March.
The statistics also reveal the highest rate of activity since May 2008.
However, the facts should not be taken as a definite sign of market recovery, according to Nationwide chief economist Fionnuala Earley.
"While the rise in prices in March is welcome, it is far too soon to see this as evidence that the trough of the market has been reached," she said.
Ms Earley added it would take time for measures taken by the Bank of England to filter through – and have a true impact – on the market.
The figures show house prices remain down 15.7 per cent year-on-year – a fact that may dissuade some homeowners from selling their property.
With the Easter weekend almost upon us, some may consider partaking in a spot of home improvement – something insurance firm esure recently warned should be done with the utmost care.