House prices rose by just 3% during 2005 with increases failing to make it into double digits for the first time in five years, figures have showed.

The growth was well down on the 12.7% by which property prices rose during 2004, according to Nationwide Building Society.

The group said that during the past 12 months the average home in the UK had seen its value rise by just over £4,500 to £157,250, roughly the same level that house prices were at in May this year.

It said this gain was the equivalent of prices rising by £13 a day during the year, well down on the average rise of £47 a day seen during the previous 12 months.

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