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Financial News: UK House Price Sentiment Continues To Rise In

UK House Price Sentiment Continues To Rise In April

04/20/2017 - 23:51:00 (RTTNews)

(RTTNews) - British households perceived that the value of their homes increased further in April, though the rate of growth eased fractionally, survey figures from IHS Markit and Knight Frank showed Friday.

The Knight Frank/Markit House Price Sentiment Index, or HPSI, dropped to 57.4 in April from 57.5 in March. However, any reading above 50 indicates rise in house prices.

This was the ninth successive month that the index has been in positive territory following the post-referendum low in July.

Among regions, households in the South East reported the biggest increase in April, followed by Londoners.

The future HPSI, a measure of expectations on house prices climbed to 67.1 in April from 66.8 in March. Households in all regions expect the value of their home to increase over the next 12 months.

"Relatively upbeat house price sentiment also contrasts with a renewed squeeze on real incomes from rising inflation. This suggests that the resilient economic backdrop and ultra-low mortgage rates have been key factors behind the rebound in confidence since last summer," Tim Moore, senior economist at IHS Markit, said.

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