House prices rise 1.1%

UK house prices rose 1.1% in March after a drop in February, according to data released by the Halifax.

The increase means that the average home in the UK now costs £168,521 - nearly £11,000 higher than a year ago. The latest increase pushed the annual rate of house price inflation up to 5.2% from 4.5% in February.

"This was the eighth rise in the past nine months, taking the average price to 9.1% above the low point reached last April," said a spokesperson from the Halifax.