More bad news from the UK housing market. From today's Times:
The housing market showed further tentative signs of stabilising today with prices rising by more than 1 per cent during April, government figures showed.
A report from the Department of Communities and Local Government (DCLG) said the average cost of a home in the UK jumped by 1.1 per cent during the month, while the annual rate at which prices are declining eased to 13 per cent, down from 13.6 per cent in March.
The average house prices in the UK is now £189,215.
The DCLG report added to other positive reports on the UK housing market, with figures published yesterday showing that the pace of house price falls slowed in May while home sales picked up.
About 6 per cent of estate agents across the UK said that property values had risen in May, while 42 per cent said that prices fell, according to figures from the Royal Institution of Chartered Surveyors (RICS).