–Update: Adds Detail To Version Transmitted At 0812 GMT
–House Prices Up 1.1% m/m In Mar; Up 5.2% 3m y/y
–UK Q1 House Prices Up 0.6% q/q
LONDON (MNI) – UK house prices rebounded in March after falling
sharply in February, according to the latest Halifax survey.
March house prices were up 1.1% on the month to stand up 5.2% on
the year, following a revised 1.6% fall on the month in February. The
1.1% increase was the eighth monthly rise in house prices in the past
nine months and the largest since November last year.
The 5.2% year-on-year rise was the largest since December 2007.
House prices in the first quarter were up 0.6% on the fourth quarter.
On the Halifax series, UK house prices were up 9.1% in March from
their April 2009 trough, having fallen 23% from peak to trough.
Martin Ellis, Halifax’s housing economist, said increasing supply
should curb house price inflation.
“There are signs that an increase in the number of properties
available for sale is beginning to reduce the imbalance between supply
and demand. This should help to contain the upward pressure on house
prices,” he said.
–London newsroom: 44207 862 7491; email drobinson@marketnews.com
[TOPICS: M$B$$$,MABDA$,MABDS$,MT$$$$]
