The house prices in UK jumped by 10.5% on annual basis in the month of April, according to the latest housing price survey by Nationwide. This was recorded the first double digit growth in house prices on annual basis since June 2007.

The report by nationwide revealed that the average house price was registered of £167,802 in the month of April 2010, increasing by 10.5% comparing to the same month last year.

Nationwide also said that the prices in April were also reported up by 1% comparing to the previous month of March.

Nationwide, the biggest building society in UK, said that the growth in house prices in April was there as the supply of homes up for sale being unable to keep up with demand from potential buyers.

Nationwide said that the growth in house prices in the month of April was also helped by comparatively weaker figures in the same month last year. The month of April in the year 2009 was reported as one the weakest months for house prices during 2009.

However, Nationwide also predicted that the growth in the house prices will unlikely to retain the current momentum in coming months.