Nationwide sounds house price revival warning

According to the firm, the price of a typical house fell by 0.4% in April, reversing a "surprise" 0.9% rise the previous month. The average UK house price now stands at £151,861, it says, pointing out prices have declined by 15% on an annual basis. "This reverses some of the rise seen in March, but is in line with our expectations, given the current economic conditions," Nationwide chief economist Fionnuala Earley says. "While affordability is indeed more favourable and there does seem to be some cautious optimism from some quarters, it is still far too soon to say that this is the st...