THE Nationwide Building Society has announced that house prices have remained stable for the sixth month in a row.

The Swindon-based company said houses prices rose by 0.4 per cent in January and that the period of stability would bring more homebuyers back to the marketplace.

Alex Bannister, Nationwide Group Economist, said: "The price of the typical property rose 0.4 per cent in January. Prices have now been broadly stable for six months with prices rising by an average of just 0.25 per cent per month over the period."

The price of the typical house now stands at £151,757 compared to £152,623 in December 2004.

"Since last summer the focus of homeowner and would-be homeowner concern appears to have shifted from 'how high interest rates will rise' to the future direction of house prices," said Mr Bannister.

"Consequently, it is increasingly a buyers' market with prospective buyers staying on the sideline until the outlook becomes more certain.

"However, with prices having been broadly stable for six months and the market nearing the end of the usual seasonal lull, there are indications that sentiment may be about to turn more positive."

As reported in yesterday's Late Edition of the Adver, a survey by property research company Hometrack revealed that house prices in Swindon fell in line with the national average last month.