UK house prices show biggest seasonal rise since 2015

Rising prices: A ‘For Sale’ signage is seen outside a residential property in London. Britain’s official measure of house prices showed prices in the year to April rose 8.9%, after a 9.9% increase for the year to March. — Bloomberg

LONDON: Asking prices for British homes between mid May and early June rose by 0.8% compared with a month before, the biggest rise for the time of year since 2015, as available housing remains in short supply, property website Rightmove said.

The increase is less than the 1.8% recorded a month earlier but still takes asking prices 7.5% above their level in early March 2020, before Britain went into its first Covid-19 lockdown.