–UK March House Prices Up 1.1% m/m; Up 13.4% On Year
LONDON (MNI) – The recovery in UK house prices continued unabated
in March according to Acadametrics, with its data series showing an 11th
consecutive monthly rise.
The Acadametrics series has shown none of the monthly volatility
recorded in the Halifax and Nationwide series, which recorded sharp
falls in house prices in February followed by a rebound in March.
Acadametrics said prices were up 1.1% on the month in March and up 13.4%
on the year.
According to Acadametrics, house prices so far this year have risen
1.8% on the month in January, 2.3% on the month in February and 1.1% in
March.
Peter Williams, chairman of Acadametrics, said one of the
differences between his company’s findings and the mortgage lenders’
could be due to the impact of high value housing transactions.
These have proved robust, and may not be reflected in the mortgage
based surveys.
“Transaction numbers remain relatively low such that small pockets
of demand can exert a higher influence on price than one would see in a
more active market…We have noted that in all the high value areas
prices have increased but transaction levels have remained fairly
constant,” Williams said.
Acadametrics said London house prices had hit a new record high.
The average price of a London house in March was stg376,605, stg748
above the previous high seen in February 2008 and well above the average
price of a home in England and Wales of stg227,788.
–London newsroom: 4420 7862 7491; email drobinson@marketnews.com
[TOPICS: M$B$$$,MABDA$,MABDS$,MT$$$$]
