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British house prices up 1.6 pct in April

Xinhua, May 8, 2015 Adjust font size:

The latest Halifax house price index released on Friday showed that British average house price stood at 196,412 pounds in April, a seasonally-adjusted 1.6 percent rise month-on-month.

House prices in the three months to April were 2.2 percent higher than in the preceding three months, according to the Halifax, a lender under Lloyds Banking Group.

The annual house price growth was 8.5 percent, slightly higher than March's 8.1 percent, it added.

"It seems unlikely that house prices will see a marked slowdown over the remainder of this year," said Ed Stansfield, Chief Property Economist of the Capital Economics.

"Employment is still rising strongly, mortgage interest rates are continuing to edge lower and consumer confidence is close to an eight-year high. And for now at least, the low level of new instructions is helping to keep prices moving up," he added. Endit