House price increase lowest ever recorded in March
House prices in the UK have risen by 0.1 per cent during March, according to new research.
The new figures, from Rightmove, were the lowest increase ever recorded in the month of March.
However, the first quarter of 2010 showed a 3.7 per cent increase in house prices.
Furthermore, potential first-time buyers are being hindered by lenders cherry-picking only the most credit-worthy customers, leaving many with fewer options to get on to the property ladder.
Stuart Law, chief executive of domestic and foreign property adviser Assetz, said to a smaller increase was to be expected with the change in stamp duty at the end of 2009 combined with the coldest winter in 30 years.
He added: "We are in a confused three months but we fully expect the market to be positive for the year - albeit there are some risks."
Although house price rises have slowed, the continued increase will only encourage people to look for property to rent in the London borough of Merton, or indeed elsewhere in London and the UK.
By Martyn Glynn
Published 17th March, 2010
© 2010 Estates IT Limited
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