House prices increased in April

People seeking out cheap mortgages have been told that national house prices increased in April.

Figures from the Land Registry reveal that property value in England and Wales increased by 0.8 per cent between March and April, boosting the average house price to £163,083.

However, year on year house values have dropped by 1.3 per cent, with regional changes differing dramatically.

In London, those seeking cheap mortgages were told, house prices increased by five per cent since this time last year, and saw a monthly rise of three per cent.

Whereas in the North East the picture is starkly different, with prices falling by 1.7 per cent in April and an annual fall of 8.1 per cent.

In order to make home loans more affordable in an unpredictable market, Barclays has reduced its mortgages for the fourth time in six weeks.

The bank has slashed mortgage rates by as much as 0.21 percentage points on some products.

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-06-02 13:27:15 © Moneyextra.com