- Miles Shipside, commercial director of Rightmove
U.K. home prices soared 2.9 per cent to 243,737 pounds in April, announced the Rightmove Plc, owner of the U.K.'s largest residential property web site, on Monday.
"This is not a universal signal of a housing-market recovery," Miles Shipside, commercial director of Rightmove, said in a statement.
"Fresh property stock is a bit scarcer this April compared to last, and this is a key factor in providing a price floor for spring prices to springboard from."
U.K. stocks edged slightly higher on Monday. The benchmark FTSE 100 index rose 0.26%, or 14.49 points, to 5,666.28. The FTSE All-Share Index advanced 0.15%, or 4.31 points, to 2,947.36.
"The market is making a pause after last week's declines," said Bruno Ducros, a fund manager at CamGestion in Paris, which oversees about $4 billion in stocks. "All the better, but I'm not sure it will last. We expect volatility until Spain's bond sale on Thursday."
© Dukascopy Bank