April 2014 - House Price Index

May 9, 2014Tags: house price index | buying

Average house prices climb £1,200 in April - setting new record

• Average prices now at £263,113 peak – £54,000 above recession low point in April 2009
• House sales up 40% year-on-year, with 72,000 transactions in April
• Sales activity fuelled by increases in first-time buyers and buy-to-let landlords
• East Anglia joins ranks of London and South East with prices exceeding pre-recession highs Commentary: David Newnes, Director of Your Move estate agents, owned by LSL Property Services plc, comments: “Average prices across England and Wales have risen £1,200 during April, setting a new record. Prices have now climbed over £54,000 (26%) above the recession rock-bottom of April 2009, when the nation was gripped in the gloomy depths of the financial crisis. “As the floods and bad weather at the start of the year become a distant memory, sales in April have returned to more normal levels. Total house sales stand 40% higher than at the same point last year, totalling 72,000 in April. Activity is largely being fuelled by increasing numbers of purchases by first-time buyers and buy-to-let landlords, as consumer confidence sweeps the country. Low inflation and healthy wage growth are energizing household finances, and infusing aspiring buyers with greater optimism." Read the full index