By Daniel Hunter

The growth of house prices continued to slow down in March, according to Nationwide.

Prices were up 5.1% in March, compared with last year, down from 5.7% in February.

Compared with February, prices were up 0.1%.

The average house price in the UK is now £189,454, according to Nationwide.

Robert Gardner, Nationwide's chief economist, said: "Economic conditions have remained supportive, with labour market conditions continuing to improve and mortgage interest rates close to all-time lows.

"Nevertheless, the pace of housing market activity has remained subdued, with the number of mortgages approved for house purchase in January around 20% below the level prevailing one year ago."