Property News

Monday, April 16, 2007

4-year high for house price growth

According to the property website Rightmove, asking prices for homes in England and Wales rose at their fastest annual pace in nearly four years in April.

The survey showed prices rose an annual 15.0% between March 11 and April 7, accelerating sharply from 12.2% in the previous month and showing the strongest rate of annual growth since May 2003.

Asking prices rose 3.6% in the month, pushing the average price to 236,490 pounds (Rightmove's figures are not adjusted for seasonal factors).

There were, however, large discrepancies in regional price growth. Prices in London's upmarket Kensington and Chelsea borough rose nearly 90% on the year, but in Wales asking prices are just 6% higher than a year ago.


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