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British house prices increase 0.4 pct in March

Xinhua, April 9, 2015 Adjust font size:

The latest Halifax house price index released on Thursday showed that British housing prices increased by 0.4 percent between February and March.

House prices in the first quarter of 2015 were 2.6 percent higher than in the final quarter of 2014, the third consecutive quarterly increase, according to Halifax, a lender under Lloyds Banking Group.

Prices in the three months to March were 8.1 percent higher than in the same three months a year earlier, it added.

"The recent return to real earnings growth for the first time in several years, very low mortgage rates, and last December's stamp duty changes are supporting housing demand," said Martin Ellis, a Halifax housing economist.

"The rising level of house prices in relation to earnings should, however, curb house price growth and activity," he added. Endit