Britain's house prices rise

Last Updated: Thursday, May 9, 2013 - 15:22

London: House prices in Britain rose by 1.1 percent in April following two consecutive increases in the previous two months, according to the Halifax House Price Index report.

The average house price in April stood at 166,094 pounds (about $257,200), the highest since 2010, reported Xinhua.

Prices in the three months from February to April were 1.3 percent higher than in the previous three months, the fifth successive increase in this measure.

House prices between February and April increased 2.0 percent as compared with the same three months a year earlier, which was the fourth consecutive rise in this annual measure with a pick-up from 1.1 percent in March.

Halifax, now part of state-controlled Lloyds Banking Group, said the house prices continued on their upward trajectory in April, partly driven by a big drop in the level of new borrower's mortgage payment in relation to their income over the past six years.

IANS

First Published: Thursday, May 9, 2013 - 15:22
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