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Halifax: House prices surge £4,000 in April |
| Thursday, 4th May 2006 |
House prices surged by 2% in April, the largest monthly increase for two years. |
The cost of the average UK home leapt up by almost £4,000 to £178,992, said the Halifax, as low and stable interest rates, a strengthening economy and relatively high employment were continuing to add pressure to prices.
Halifax said that for the first time in seven years there was single digit house price growth in all regions of the UK, though the pace of rises was slowing in the north of England and Scotland.
Six of the top ten property hot spots were in Scotland, with Cupar in Fife the top gainer after sporting a price increase of 36% over the past twelve months.
Martin Ellis, Halifax chief economist, said: "Whilst the market may remain relatively buoyant over the coming few months, we expect the recent softening in the labour market and the continuing high level of house prices in relation to earnings, to curb demand.
"Alongside higher utility and council tax bills, these factors should lead house price growth to moderate in the second half of 2006." |
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