Survey shows house price surge

Posted: 16 Apr 2007 11:04:14 GMT

Property website Rightmove has released figures for its latest housing survey, showing that March prices saw the fastest monthly increase since April 2002.

Property website Rightmove has released figures for its latest housing survey, showing that March prices saw the fastest monthly increase since April 2002.

Annual house price inflation rose by 3.6 per cent from 12.2 per cent to 15 per cent between March 11th and April 7th.

Miles Shipside, Rightmove's Commercial director, said the situation was partly affected by seasonal factors, but the overall scale of the increase was unprecedented.

He said: "Whilst a boost is to be expected around Easter, £8,000 in a month is the largest amount we have ever recorded."

Mr Shipside said he did not expect the trend to become a new boom as rising prices would price so many people out of the market that this would "constrain" prices in the longer run in many areas.

The survey is the latest to show that the housing market remains robust in the face of higher interest rates.


© Houseladder Ltd