British House Prices Slow Slightly

British house prices rises slowed somewhat in April, a survey showed on Thursday, tempering a surge in property values that has stirred talk of a bubble and raised concern at the Bank of England.

The Royal Institution of Chartered Surveyors’ (RICS) seasonally adjusted house price balance eased last month to +54 from +57 in March, below a +56 forecast in a Reuters poll, though it remains close to November’s 11-year high of +58.

The survey contrasts with data from mortgage lender Nationwide last week which showed British house prices posting their biggest annual rise since the start of the financial crisis in April.  Both house prices and broader market activity rose in every area of Britain, with RICS members saying they were at their busiest since February 2008.

Reuters

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