April 2015 House Price Infographic
April 2015 House Price Watch Index indicates house prices are up on average 0.3% in the past month and up 6.8% in the past year
Across the major house price indices, the average rate of annual house price growth dropped for the fifth consecutive month to 6.8%. Completed home sales in the opening two months of 2015 are down 9% compared to a year ago. However, mortgage approvals (a leading indicator of future completed house sales) have begun to rise again. Recent reform to pension rules will make it easier for pensioners to purchase investment properties and may help boost market activity in the months ahead. Newly listed properties increased last month, though supply remains tight. Despite relatively strong rates of house price growth in recent years, there has only been a modest pick-up in house building.