- Rightmove
UK house prices rose to a record in April as a strong labour market and ultra-low interest rates continue to support house price growth in Britain. Average asking prices rose 1.3% from March to 307,033 pounds, according to the Rightmove property portal. On an annual basis, prices were 7.3% higher. The data revealed that the price change in April was driven upward mainly by larger and more expensive properties, whereas the price of smaller properties purchased by first-time buyers experienced a monthly decline of 1.4%.
Mortgage provider Halifax reported earlier this month reported that house prices had advanced in the three months to March, surging 10.1% above the level recorded during the same quarter last year. Prices also climbed when measured on a monthly basis, by 2.6%, recovering from a decline of 1.5% a month before, Halifax said. Despite this surge in the first quarter, Halifax said housing market activity should slow in the second half of this year.
The number of mortgage approvals growth slowed only slightly to 73,871 in February, compared with 74,085 a month before, but remained close to January's two-year peak, according to the Bank of England.
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