U.K. house prices rose the most in six years this month as a shortage of properties boosted values in London, according to Hometrack Ltd.
Average values in England and Wales increased 0.4 percent, the biggest monthly increase since May 2007, the London-based property researcher said in a report today. London prices jumped 0.9 percent. Demand in the capital has surged 15 percent in the past six months, while supply has fallen 0.6 percent.
“The impetus for rising house prices is originating almost exclusively from London and the southeast,” said Richard Donnell, director of research at Hometrack. “Elsewhere housing market conditions are improving gradually, with prices trending slowly upwards.”
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