March house price increase 'massive'

The price of housing in England and Wales grew by a larger amount in March than at any other point over the last four years, according to a property expert.

Figures from Rightmove show that the cost of the average property went up by an average of £8,307 - 3.6 per cent - in the four weeks previous to April 7th 2007.

The company has claimed that this is the highest increase since April 2002.

Similarly, it added that the year-on-year increase is now 15 per cent - a four-year high - elevating the average asking price to £236,490.

"While a boost is expected around Easter, £8,000 in a month is the largest amount we have ever recorded," said Miles Shipside, Rightmove's commercial director.

Scotland's house price inflation has seen a similar hike, according to Glasgow Solicitor's Property Centre.

It has reported that inflation in the west central region of the country is now 10.7 per cent, according to the Herald.

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