Housing Market Subdued

The latest report by The Nationwide Building Society has found that the housing market is still subdued.

According the report house price rose by just 0.3% in May which is still 1.2% lower than figures of a year ago with the average house price just £168.208.

“The UK economy returned to growth in the first three months of 2011, albeit at a modest pace,” said the lender’s chief economist, Robert Gardner.

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