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House prices have risen by 0.5% in April after a period of decline that has persisted for around 7 months. Prices are currently somewhere around 4.5% down from the peak last year.

According to the lender Nationwide the average property is now worth £260,441. Robert Gardner, of Nationwide, said that the April pickup showed “tentative signs of a recovery” in the market.

“While confidence remains subdued, people’s views of their own financial position over the next 12 months, and general economic conditions in the year ahead, have both improved markedly in recent months,” he said.

“If inflation falls sharply in the second half of the year, as most analysts expect, this would likely further bolster sentiment, especially if labour market conditions remain strong.”

 

It remains to be seen what happens over the coming months but the changing sentiment in the property market has been clear to us. Demand has been steadily increasing since the turn of the year and transaction volumes have also increased.

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