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”.
Share this..
Related stories
Surveyors report rising house prices
House prices in Britain grew for the 18th month in a row during April, a poll of surveyors has shown.According to the Royal Institute of Chartered Surveyors (Rics), the country's housing market is in "rude health".The institute's monthly report found that 28.9 per cent more surveyors reported a rise rather than a fall in house prices, compared to 26.9 per cent in March.Today's increase comes ahead...
Read MoreSlowing market offers opportunities for first-time buyers
The slowing property market may offer the perfect opportunity for first-time buyers to invest, according to First Rung Now who offer advice to first time buyers.Nationwide have reported that there are now "clearer signs" that demand in the property market has slowed, and its most recent house price survey showed that annual house price inflation had dropped to 9.6 per cent this month, down from 9....
Read MoreDampened property market growth downplayed
Recent interest rate rises from the Bank of England are not having the dampening effect on house prices many market indicators suggest, according to the Council for Mortgage Lenders (CML).Publishing its quarterly market commentary today, the CML claims that forward-looking data shows two factors are mitigating the impact of three rate hikes in five months on Britain's property market.Following the...
Read MoreWas last months 1.2% house price rise correct?
When leading estate agent Rightmove announced that property prices in the UK rose by 1.2% in January, a number of eyebrows were raised. While there is no doubt that the figures themselves are correct, and there was an average rise of 1.2% across the UK in January, there are a number of factors which need to be taken into account.
The so-called rise also occurred at the same time as...
Glasgow shopping centre in distressed property sale
The Silverburn shopping Centre in Glasgow is up for sale in one of the most startling distressed property sales in the UK today. While we await official confirmation of the sale price and those interested in the property there are rumours that Bank of Scotland has effectively pulled the plug on the operation and decided to cut its losses. Bank of Scotland, part of the HBOS group, supplied the debt...
Read More