House price growth high­est for six years

Yorkshire Post - Property - - PROPERTY -

HOUSE prices grew by 0.4 per cent in May, the high­est in­crease in a sin­gle month since May 2007, ac­cord­ing to Home­track.

The high­est rises were in Lon­don and the South East, where they grew at 0.9 per cent and 0.5 per cent re­spec­tively. Prices across the rest of the coun­try av­er­aged a 0.1 per cent rise, though they were static in York­shire, the North West, North East and Wales.

Home­track says a lack of homes for sale is driv­ing the rise, with the num­ber of sales out­strip­ping new properties com­ing onto the mar­ket. The per­cent­age of ask­ing price achieved stands at just un­der 94 per cent.

Home­track’s Richard Don­nell says: “Na­tion­ally the trend in prices is up­wards with de­mand ris­ing ahead of sup­ply.”

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