House prices up 1.2% in first three months of 2013

House prices increased by 0.2% in March

House prices between January and March were 1.2% higher than in the last three months of 2012, according to Halifax.

"House sales also continued to rise, according to the latest industry-wide figures," said Martin Ellis, Halifax housing economist. "Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of this year. Overall, we expect to see a modest increase in UK house prices during 2013."

The 1.2% rise is the fourth successive increase, while house prices between January and March were 1.1% higher than in the first three months of 2012.House prices increased by 0.2% in March, following a 0.5% rise in February.