U.K. Housing Recovery Spreads Outside London

Britain’s housing market recovery spread further beyond London this month as prices rose in more parts of England and Wales outside the capital than at any time over the last decade, a survey showed on Monday.

Asking prices for houses in England and Wales rose 0.6 percent in April, the same pace as in March, according to the survey of estate agents and surveyors from Hometrack.  The report showed 48 percent of postcode districts outside London reported rising house prices, the highest level since June 2004 and three times as high as a year ago.

“Demand continues to grow faster than supply, maintaining the supply/demand imbalance that underpins the upward pressure on house prices,” said Richard O’Donnell, director of research at Hometrack.

Reuters

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