House prices improve in March

Residential landlords in the UK could be among those to be encouraged by an upturn in UK house prices over the last month.

New figures released by Nationwide have revealed that February's house price decline has almost been reversed by a 0.7 per cent increase.

According to the report, the average house price has increased from £161,320 to £164,519 over the last four weeks.

This represents an annual growth of nine per cent, according to the organisation's data.

Martin Gahbauer, Nationwide's chief economist, said uncertainty ahead of the forthcoming election means activity in the housing market could remain subdued.

"With greater than usual political and economic uncertainty ahead of the upcoming general election, potential homebuyers are proceeding cautiously," he said.

"At the same time, the number of homes for sale has not increased appreciably, meaning that the impact of lower buyer activity on house prices has not been too negative. If this trend continues, we are likely to see relatively few properties changing hands, but with prices fairly stable."

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