House prices rise in March

House prices rose again in March, going up by over £2,000 on average, according to a official government figures.

Statistics released by the Department for Communities and Local Government show that the average house in the UK is now priced at £206,890.

However, despite the rise, annual house price inflation was found to have dropped slightly between February and March.

There was a particularly marked drop in London, falling from 16.1 per cent in February to 13.9 per cent in March.

And in both Scotland and Wales house prices were well below the UK average, at £151,468 and £161,191.

In England, house prices in the east, London, south east and the south west were above the national average.

In related news, the Bank of England’s monetary policy committee raised the base rate of interest to 5.5 per cent last week as inflation shows no signs of slowing down.

© Adfero Ltd

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