Nationwide reported this morning that house prices in April grew to an average of £214,920, based on its mortgage approvals. This was up from £213,102 in March, but last month’s house prices were up just 0.9% on April last year.

April marks the fifth successive month where annual house price inflation has been below 1%.

Nationwide said house prices still remain high relative to earnings, but that first-time buyer numbers have been recovering.

It has been separately reported that there were 42,328 mortgage approvals by banks for house purchase in March.

The figure was 9.3% up from the 38,710 in March last year, and a jump from this February’s figure of 33,621 approvals for house purchase.

The figures are from trade body UK Finance which points out that March last year was particularly subdued in terms of overall mortgage lending, when the Beast from the East helped freeze activity.