House prices in first rise since January

House prices in England and Wales rose by 0.8 per cent in April, the first monthly increase since January and the biggest rise since January 2010, data from the official Land Registry showed.

However, average residential property prices were still 1.3 per cent lower than a year ago at £163,083 the Land Registry said.

<a href="http://www.cityam.com/house-prices";>House prices</a> in London rose three per cent on the month to stand five per cent higher than a year earlier, the Land Registry added.

Land Registry data is based on completed property purchases, and so tends to lag the measures based on mortgage approvals published by lenders Nationwide and Halifax.