Tuesday, April 12, 2011
+0.4% MoM -0.9% YoY
The spring bounce continues in the UK home market. Seasonal optimism has lifted home prices a further 0.4%, although they remain 0.9% less than in April 2010. Supply of properties remains strong (9.5% more new properties appeared on the market in March 2011 than in March 2010) and continues to put downward pressure on asking prices. Hence, vendors continue to resort to price-cutting: 29% more properties were reduced in price in March 2011 than compared to March 2010.