News Column

UK House Price Balance +0.6% In April - Hometrack

April 27, 2014

LONDON (Alliance News) - The average asking price for a house in the UK was up 0.6% on month in April, property tracking website Hometrack said on Monday - unchanged from the March reading.

On a yearly basis, house prices spiked 6.0%, accelerating from the 5.7% gain in the previous month.

Record low interest rates from the Bank of England appear to be driving the increase, Hometrack said, as 48% of postal codes saw an increase in prices.

The time a property is on the market before it sells declined to 6.3 weeks - the lowest figure since June 2007.

In the heavily populated London area, prices were up 0.8% on month and the time on the market climbed to 3.4 weeks from 2.7 weeks.

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Source: Alliance News