Friday, 21 September 2018

House prices on the rise

UK house prices increased by 1.2 per cent in April and were 10.9 per cent higher than April 2013, according to a survey by Nationwide.

Robert Gardner, Nationwide’s chief economist, said: “After several months of moderation, the pace of house price growth picked up in April, with prices rising by 1.2 per cent during the month.

“As a result, annual house price growth has reached double digits for the first time in four years, with the price of a typical home 10.9 per cent higher than April 2013.

“The introduction of Mortgage Market Review measures could have an impact on activity levels in the months ahead as the new measures bed down.

“However, underlying demand is likely to remain robust, as mortgage rates remain close to all-time lows and as consumer confidence improves further on the back of stronger labour market conditions and the brighter economic outlook.

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