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UK House prices rise in April

The average price of a house in the UK rose by 1.1pc in April, compared to March, but activity in the housing market remains low, according to Halifax.

This means that house prices rose for the third consecutive month, and are now 2pc higher than at the start of the year. Despite these strengthening results, a fall in the amount of mortgage approvals in 2013 has meant that the activity around the housing market has remained low.

Halifax, which is part of the Lloyds TSB banking group, has put the rising prices down to the fact that mortgage payments for first-time-buyers and home-movers have reduced by almost half as a proportion of disposable income since a peak of 48pc in 2007. The current level stands at 28pc, with the average recorded since 1984, 36pc, according to Halifax.

However, many are concerned about the disparity between different areas of the UK, and recently it has been well documented that the statistics are piggybacking on strong price growth in London, while other areas of the UK are in decline.

Jonathan Hopper, managing director of property search consultants, Garrington, said: “some regions of the UK remain under pressure. The market is still deeply polarised, with the increasing national average masking the huge divergence between London’s surging prices and those in the North of England that are stuck in reverse”.

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