Survey shows April house price rises the fastest in four years

Posted: 30 Apr 2007 11:40:01 GMT

A new survey has indicated that house prices in April rose at the fastest rate in four years.

A new survey has indicated that house prices in April rose at the fastest rate in four years.

The figures from the Hometrack survey show that during the month the average house price in England and Wales jumped by 6.8 per cent compared with a year earlier, with the monthly rise standing at 0.7 per cent.

March had seen a higher monthly rise at 0.8 per cent but overall annual inflation in that month had been 6.7 per cent.

April's figure was the highest since June 2003.

In line with recent trends of regional variation, Hometrack said the rise was chiefly caused by rapid house inflation in the south-east and London.

Bloomberg reports that in London the monthly rise was 1.4 per cent, while in Wales it was 0.1 per cent, a figure matched by Yorkshire and Humberside.

Hometrack director of research Richard Donnell said that interest rate rises in the coming months could slow the market down substantially.

He said: "Interest rates and the prospect of further rises remain the greatest threat to short-term price growth."


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