House prices rise more than forecast in April - Halifax

LONDON (Reuters) - House prices rose strongly in April, supported by relatively cheap mortgages, lender Halifax said on Wednesday.

Prices increased 1.1 percent on the month - the best growth since November - after an upwardly revised rise of 0.4 percent in March.

In the three months ending in April, they were 2 percent higher than a year ago, recording the steepest rise since September 2010.

Analysts had expected monthly and yearly pick-ups of 0.1 percent and 1.6 percent respectively.

"Market activity, however, remains subdued by historical standards," said Halifax housing economist Martin Ellis.

"Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of 2013."

(Reporting by Olesya Dmitracova)

Source: http://news.yahoo.com/house-prices-rise-more-forecast-april-halifax-071728373.html

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