British house price inflation up in April

British house price inflation picked up unexpectedly in April on the back of continued strength in London's property market.

British house price inflation picked up unexpectedly in April on the back of continued strength in London's property market.

The Department for Communities and Local Government said house prices rose 11.3 per cent year-on-year in April compared with 10.9 per cent increase in March.

The figures contrast with other reports suggesting the housing market is starting to cool, but analysts noted this series tends to lag other surveys.

Data from the Bank of England shows approvals for new mortgages fell for a third month running in April, while the Halifax house price survey last week showed property prices rose last month at their weakest monthly pace this year.

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The average house price was £209,454 (€308,542) in April, more than £10,000 (€14,730) higher than November.

House prices in London rose 14 per cent year-on-year in April and have risen faster than the national average for the past year.