For the first time in four and a half years, London is no longer the region with the country’s strongest house price performance according to LSL Property Services. Now, the south east and East Anglia are both reporting stronger year-on-year price rises.
However, while across England and Wales, house prices grew by 0.2 per cent in the single month of April, the annual rate of property price growth has halved since last summer and is now down to 5.3 per cent.
LSL also reports that sales in the first quarter of the year were down 10 per cent - a fact that it blames on the general election.
“Across the market home sale completions made healthy headway with a five per cent uplift in the month of April” says an LSL spokesman.
“Now a clear majority government has been established, confidence has returned to the market with abandon. The only major snag in the fabric of the housing market remains the fundamental flaw of a lack of new homes” he says.