House prices rise 1.2pc in March

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

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.