Doubt on house price figures

Data from the two leading house price indices has been called into question as Nationwide and Halifax reported opposite price trends.

Nationwide’s house price index sparked hope in the housing market when it reported house prices had risen 0.9% in March.

But just a day later, any tentative hopes of an upturn were dashed when the Halifax index showed house prices fell in March by 1.9%.

Nick Hopkinson, director of Property Portfolio Rescue, says: “With extremely low sales volumes, this data is particularly volatile and will only confuse the general public.”