After blogging last week about the variety of results that the housing market surveys produce, this week it’s the turn of the Government to tell us how house prices are doing and according to their figures prices are rising at their fastest rate since the autumn of 2007.
Annual house price inflation has reached as the Department for Communities and Local Government (DCLG) said prices in April were 10.1% higher than a year ago. The figures also show that UK house prices rose by another 0.4% in April alone, putting the average UK property at just over £207,000. Despite the rise in prices, the number of loans granted to home buyers fell by 9% in April to 40,000, if you believe this survey that is.
Tags: conveyancing, fast house sale, quick house sale, repossession