Tuesday, April 4, 2006
Category:
Property
Rising house prices in London gave a helping hand to positive figures for the UK as a whole in March.
London prices rose by 1.1 per cent this month, according to Hometrack, with a 0.5 per cent increase in Britain overall.
It is the fourth consecutive month the company has recorded a rise nationally, with the average price now standing at £162,500.
Richard Donnell, director of research at Hometrack, commented: "A lack of new housing coming onto the market for sale in London is supporting particularly strong price rises at the moment."
"This, combined with the fact that London has underperformed in terms of house price growth over the last few years means that incomes and house prices in the capital are more closely aligned than is the case in other regions."
The number of new properties rose by one per cent in London during the past month, compared to a ten per cent rise in buyers.
Elsewhere in the UK, buyers rose by seven per cent, with a 3.7 per cent increase in new properties going on sale.
