House Prices Rise For First Time Since 2007

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According to a report by the Nationwide property prices rose for the first time in 16 months in March.

The Nationwide report claims that the cost of a home in the UK increased by 0.9% during March, pushing average values back up above £150,000 to £150,946.

This increase saw the annual rate of house price decline from a record 17.6% in February to 15.7% in March.

According to Sky News, Nationwide's chief economist said "The Bank of England has already taken strong measures to ease the tensions in economic and financial markets by cutting rates and commencing quantitative easing."