House prices 'rose in April'
The number of houses for sale has increased in recent weeks, Hometrack report
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Monday, 30, Apr 2007 09:47
House prices in the UK have continued their steady increase with a rise of 0.7 per cent in April, Hometrack's national housing survey reports.
Although the monthly growth is not as steep as that seen in March, when a rise of 0.8 per cent was experienced, the continuing climbing prices are likely to remain a problem for first-time-buyers.
However Hometrack believes that the reduced increase in April has been caused by the number of properties coming onto the market in the past few weeks, leading to problems with supply and demand.
"Over the last two months the Hometrack survey has revealed that the number of properties coming to the market has exceeded the increase in demand," said Richard Donnell, director of research at Hometrack.
"This growth in supply was seen right across the market."
The increase in available properties is related to the introduction of home information packs (HIPS), a new form of survey and information about the property which is provided and paid by the vendor for the buyer.