House prices by region
Updated on 02 April 2009
House prices rose for the first time in 16 months during March, but the trend over the last three months continues to show a decline.
The cost of a home in the UK increased by 0.9 per cent during the month, pushing average values back up above the £150,000 threshold to £150,946, according to Nationwide.
The surprise increase also led to a reduction in the annual rate at which house prices are falling, with this easing from a record 17.6 per cent in February to 15.7 per cent in March.
Nationwide also released figures showing the average house price over the last three months was lower at £149,709, 4.2 per cent lower than the last three months of 2008.
House prices by region
Click on the image below to see a map of how house prices have been affected in your region over the last three months.
For a detailed breakdown of house prices in your area, click here.
House prices in Northern Ireland had fallen at an annual rate of 29.6 per cent during the first quarter of the year - the biggest drop recorded for any region of the UK. Yet Northern Ireland was the only part of the country to see some moderation in the rate at which prices are falling.
Scotland continued to record the smallest annual price falls at 12.6 per cent, but the pace of decline picked up significantly during the three months to the end of March.
Wales also suffered during the first quarter, with homes losing 8.3 per cent of their value during the three months alone, the biggest quarterly drop recorded for anywhere in the UK.
Scotland, London and East Anglia all also recorded quarterly falls of more than 5 per cent, with the South West seeing the smallest decline of 2.9 per cent, followed by outer London at 3.7 per cent.
The Royal Institution of Chartered Surveyors also said that interest from potential buyers rose for the fourth month in a row during February, while property intelligence group Hometrack reported a slowing in the rate of house price falls during March alongside a rise in sales.
Bridgid Nzekwu examines the figures.
