15 Jun

Good news for property market as house prices rise

Good news for property market as house prices rise

UK homeowners received good news last week after it was confirmed that house prices have risen over the past year.

The latest House Price Index, released by the Department of Communities and Local Government, revealed that the average house in Britain increased in value by ten per cent over the last 12 months.

It also showed that between March and April this year, house prices went up in value by 0.4 per cent.

Comparatively, during the same period last year, house prices fell by 0.4 per cent.

The data also showed a growth in property value for former owner occupiers from 8.6 per cent in March to 9.3 per cent in April.

According to the report, the average house price in April paid by former owner occupiers was £240,629.

Earlier this week, the National Association of Estate Agents reported a stable few months for the property market, despite the significant political changes that have occurred recently.

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