Property News

Monday, June 11, 2007

House price inflation picks up

According to The Department for Communities and Local Government, house price inflation picked up unexpectedly in April thought to be boosted by the continued strength in London's property market.

Its stated that house prices rose 11.3% year-on-year in April compared with 10.9% increase in March. However, data from the Bank of England showed approvals for new mortgages fell for a third month running in April, while the Halifax house price survey last week showed property prices rose last month at their weakest monthly pace this year.

In April, the average house price was £209,454, more than £10,000 higher than November.
House prices in London also rose 14% year-on-year in April and have risen faster than the national average for the past year.


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