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LATEST NEWS & EVENTS February house prices rise by a fraction  Residential property conveyancing was boosted last month as the average cost of buying a house rose, according to new figures from the Nationwide. The lender reports that house prices increased by a marginal 0.3 per cent between January and February, bringing them to within touching distance of average values 12 months ago. Residential property prices are just 0.1 per cent down on the same period last year, with the average house now costing £161,183. The figures are released just after the Land Registry published its House Price Index for January, which also show a slight upturn in property values at the beginning of 2011. Commenting on the Nationwide data, the lender's chief economist Robert Gardner said the overall picture remains that the market is "treading water". He explained that the economic recovery "hit a soft patch" at the end of 2010 and looks likely to remain sluggish in the year ahead. "The property market is likely to follow suit, with relatively low transaction levels and prices moving sideways or modestly lower through 2011," Mr Gardner added. Posted by Gaby Hamerton 
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