UK house price growth continues

Posted: 01 May 2015 16:45:02 GMT


            Property News - UK house price growth continues

Property prices continued to increase across the UK in April.

The latest Nationwide House Price Index for April has highlighted a slight increase in UK house price growth in comparison to the preceding month.

According to the organisation's statistics, UK average property values demonstrated a 12-month increase of 5.2 per cent last month - up from 5.1 per cent recorded in March.

The typical UK house price now stands at £193,048 and represents a one per cent increase from March 2015.

Responding to the results, Nationwide chief economist Robert Gardner commented: "The pick-up in price growth has occurred even though the pace of activity in the housing market has remained fairly subdued in recent months.

"Indeed, the number of mortgage approvals is still well below its long run average."

He added that mortgage approval rates remain 20 per cent below levels recorded at this time last year and could become a stumbling block to further housing sector recovery in the future if action is not taken to address this issue.

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