–UK April House Prices Up 0.5% m/m; Up 12.9% On Year
LONDON (MNI) – The recovery in UK house prices continued through
April, despite a sharp fall in house market activity, according
to Acadametrics.
Prices rose 0.5% on the month and were 12.9% higher on the year.
That compares with a 0.4% rise in March when prices were 12.0% higher on
the year.
Acadametrics said that the rise in prices occurred despite a
sharp fall in activity. The number of house market transactions in April
totaled 50,650, 5% lower than in March and the second lowest transaction
number for an April since the start of the series in 1995.
Peter Williams, Chairman of Acadametrics, said “Reflecting the
situation in the country as a whole, the current direction of the
housing market remains uncertain. The average price of a home rose again
in April 2010 and, at stg225,963, is back where it was in August 2007,
some two and a half years ago. The monthly increase, the twelfth in
succession, was 0.5%.
“However as we show transaction numbers have fallen and it is quite
clear we have been witnessing buyer competition in a market
characterised by weak supply. This in turn reflects the great
uncertainty that now hangs over the whole market.”
–London newsroom: 4420 7862 7491; email: ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDA$,MABDS$,MT$$$$]
