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Market analysis

House prices up 0.3pc in April

House prices grew by 0.3% during April with London continuing to drive growth, the latestHometrack National Housing Surveyhas revealedHometrack believe that the fundamental indicators of a healthy property market are back in place in London with the capital driving the overall rise in house prices.

Its latest monthly survey shows that house prices rose by 0.3 per cent on a monthly basis in April. Price increases have been influenced by a lack of new homes coming onto the market.

Director of research at Hometrack Richard Donnell, commented: 

May 2012 RICS Housing Market Survey

Activity stalls as temporary stamp duty boost fades• 

Price balance improves but remains negative

• Activity runs out of momentum

• Outlook becomes increasingly uncertainThe May 2012 RICS Housing Market Survey shows the price trend to still be negative, albeit a little less so than in April, with most activity indicators at best flat or turning a little softer. This reflects, in
part, some payback from the stamp duty exemption boost seen previously but also the broader increase in global risk aversion in the face of the worsening euro crisis.

Transaction levels hold up as more houses come onto the market

RICS December 2011 UK Housing Market Survey
 
Sales activity remained relatively firm during December and an increasing amount of new stock came onto the housing market, says the latestRICS UK Housing Market survey(09 January 2012).
 
The average number of completed sales per surveyor* in the three months to December was 15.2. While slightly down on November’s figure, this remains close to its best level since autumn 2010. However, sales expectations for the coming three months dipped to a net balance of 0% (from +4%).

Property Prices in England and Wales continue to fall

Land Registry’s Property Prices in England and Wales

The Average Price of a property in England and Wales is now £159,999 as at the end of October 2011.

The Monthly change in October in England and Wales was a reduction of 0.9%.

The Annual change to October in England and Wales was a reduction of 3.2%.

Source: Land Registry
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