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June 15, 2010

DCLG: House prices rise 0.4% in April

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by Kay Mitchell

DCLG: House prices rise 0.4% in April

Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices crept up by 0.4% in April compared with March, with the average UK home costing £207,516.

On an annual basis, house prices exceeded double-digits, rising by 10.1% on year – the 13th consecutive month of annual price rises, according to the DCLG.

In comparison, the Halifax recently reported that house prices are now 6.9% higher than a year ago, while the Nationwide puts the annual increase at 9.8%.

The DCLG said annual house price growth was 10.9% in England, 2.2% in Scotland and 11.3% in Wales.

However, Northern Ireland saw prices plummet by 8.9% on average in the year to April.

House prices are not expected to continue their ongoing upward trend this year, according to many experts, and this is because new instructions are set to outstrip buyer demand.

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