Home Owners Making £85 per day

The latest House Price Index released by the Department of Communities and Local Government (CLG) confirm that the UK Property market remains healthy, despite the most recent interest rate rises. According to the report, the mix-adjusted UK house price rose from £206,890 in March 2007 to £209,454 in April, not accounting for seasonal adjustments. This means that if you own a home you could be making £85 per day.

For the quarter up to April, the annual house price inflation rate was 11.3 per cent across the country, with the figure in the capital 14.7 per cent, the index also showed.

Commenting on today's figures, David Stubbs, a senior economist at the Royal Institute if Chartered Surveyors (Rics), said: "These numbers confirm that the housing market was in rude health at the start of the second quarter. "These figures also emphasise the broad nature of the prices rises, with every region of England seeing rises of over 7 per cent in the year to April. As this is faster than earnings are rising, it indicates that first time buyer affordability continues to worsen across the country."