LONDON (AFX) - UK house prices rose a seasonally-adjusted 1.7 pct on the month in April and were up 5.7 pct from a year earlier, according to the latest monthly survey released today by the Halifax PLC.
March house prices fell 0.4 pct on the month, and were up 4.1 pct year-on-year.
The Halifax said prospects for the housing market are positive. The UK economy is expected to remain in good shape partly as a result of lower interest rates. This background should ensure that housing demand remains robust.
This improvement in prices is mirrored by Inland Revenue figures showing an increase in property transactions in the past few months. Transactions in the first quarter of 2001 were 3 pct higher than in the final quarter of 2000 on a seasonally adjusted basis, with this increase following three successive quarterly falls, Halifax said.
According to the Halifax, the standardised average house price rose to an adjusted 89,295 stg in April from 87,453 stg the previous month.