Average house prices rising by 2.6 per cent. This figure rises to 9.2 per cent over the 12 months to 31 March. Alex Gosling, managing director at online estate agents housesimple.co.uk, believes the figures will distress first-time buyers in the capital.
"These figures will make pretty depressing reading for first-time buyers trying to get on the ladder in London,' says Gosling. 'Nationwide says house price growth shows "tentative signs of moderation" - tell that to the thousands of Londoners priced out of the market.'
See full article online: http://www.moneyobserver.com/news/02-04-2014/london-soars-among-widespread-house-price-rises