Housing market 'showing stability'
Updated on 09 June 2009
The housing market has shown further signs of stabilising with prices rising by more than 1% during April and demand from potential buyers continuing to increase.
Communities and Local Government said the average cost of a home in the UK jumped by 1.1% during the month, while the annual rate at which prices are declining eased to 13%, down from 13.6% in March.
The Royal Institution of Chartered Surveyors also reported upbeat figures on the market, with inquiries from new buyers increasing for the seventh month in a row during May to reach their highest level since August 1999.
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