Prices gain ground but supply increases
The Halifax reveal that house prices rose by 1.1 per cent last month and 5.2 per cent year on year. Chief economist Martin Ellis says: “House prices increased by 1.1 per cent in March, partly offsetting February's 1.6 per cent fall.
“There are signs that an increase in the number of properties available for sale is beginning to reduce the imbalance between supply and demand. This should help to contain the upward pressure on house prices.”
The number of mortgages given increased by 12 per cent in February, according to the Council of Mortgage Lenders.