THE RECENT upswing in housing market activity may be moderating, with an early indication from one bank that growth in house prices could be reaching a plateau.
House prices increased by 8.5 per cent in the 12 months to April, according to
Prices also dropped between March and April, down 0.2 per cent, following a 1.2 per cent drop between February and March. The declines marked the first consecutive drop in two months since the autumn of 2012.
"The recent more variable news on the housing market may ease some concern that a housing market bubble is developing and the recently introduced stronger rules on mortgage lending may well have a significant containing impact - but it is still a significant danger that policymakers must monitor closely and react to if necessary," said
Further figures from the
However, the figure is still down by a fifth from the same period a year earlier, and the number of mortgages with arrears worth more than 2.5 per cent of their mortgage balance is at its lowest since the beginning of 2008.
Though house-building remains anaemic when compared to the years before the crash, figures also released this morning by the
"We have been clear that this growth is from a historically low base. The
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