UK property prices move upwards
UK house prices rose 1.1% between February and March, according to the Department for Communities and Local Government (DCLG).
The DCLG index showed the average home cost £206,890 in March, up from £204,556 in February.
The figures mirror those of the Nationwide and Halifax which have both shown a buoyant housing market in 2007.
However, the DCLG did point out that annual house price inflation slid back a little from 11.8% to 10.9%.
It explained that the reason for the slide in the annual figures was because strong price growth experienced between February and March 2006 fell out of the figures.
Ireland boom
Northern Ireland was the only part of the UK where the annual rate increased, from an already high 48.5% to 50.1%.
A housing boom in Northern Ireland has now pushed average prices above those in England, the DCLG said.
Average house prices in March were £214,424 in England, £161,191in Wales, £151,468 in Scotland and £217,579 in Northern Ireland.
The boom in Northern Ireland is due to a combination of peace, increased prosperity and speculators from the Republic of Ireland buying up property.
Source: bbc.co.uk
Please post any news stories about IVAs here:
http://www.iva.co.uk/forum/default.asp?CAT_ID=5
See my Blog:
http://ivanews.blogs.iva.co.uk
