Land Registry reports 0.8% rise in April house prices

| May 31, 2011 | 0 Comments

According to the Land Registry, house prices rose by 0.8% in April compared with March, putting the average cost of a home at £163,083 in England and Wales.

Last month’s rise represented the first since January.

On an annual basis, the Registry said prices are 1.3% lower.

It must be noted that the Land Registry compiles its data from completed transactions and therefore lags behind other monitors of the housing market but is generally regarded as the most authoritative.

House prices across England and Wales have gradually fallen over recent months and are expected to fall gradually throughout the year – particularly in light of the uncertainty regarding the economy and the Government’s spending cuts.

Furthermore, mortgage approvals and house sales continue to fall and the housing market is expected to remain subdued throughout 2011 as a result.

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