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Bungalows popular as prices continue to rise

New figures have shown that the property market continued to see signs of growth during April, despite the recent interest rate rises.Although the housing sector has seen four increases in interest rates since last August, figures from the Department of Communities and Local Government have found that prices have continued to rise, with bungalows appearing to be the most desirable form of home.The study found that bungalows saw prices rise by 1.9 per cent, compared to just 0.7 per cent increase in the average price of a flat.Wales was the only country in the UK to see a fall in house price inflation between March and April, the research reported. House price inflation dipped by 0.7 per cent in Wales to nine per cent during April, the study found.However, despite this, the Royal Institute of Chartered Surveyors (Rics) has claimed the findings demonstrate a healthy property market."These numbers confirm that the housing market was in rude health at the start of the second quarter. Tight supply conditions were driving prices skywards, but the hikes in interest rates since August have now started to slow the market somewhat," said Rics senior economist, David Stubbs.

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