By Marcus Leach
Property prices in the UK fell by 0.2% in April compared to March, but with little movement either way are remaining static at present according to the Nationwide.
Over the last six months house values have fallen in three, and risen in three due to the static prices. Compared to this time last year the average home costs 1.3% less.
A typical home cost £165,609, and the building society said a strong rebound in prices was "unlikely" in 2011.
"A strong rebound in the market remains unlikely as the recovery is still expected to remain modest by historic standards," Robert Gardner, Nationwide's chief economist, said.
"In our view, the most likely outcome is that house prices will continue to move sideways or drift modestly lower through 2011."
Nationwide said the three-month on three-month comparison showed that prices rose by 0.6% in the three months to April compared with the previous quarter.
