House prices rise to four-year high

April saw house price rises hit a four-year high, according to a survey by the researchers Hometrack.

The Hometrack survey said the average house price rise was 6.8% on the year in April. This compared to the 6.7% gain in March and is the highest house price rise since June 2003.

Hometrack said strong demand in London and the South of England was the driving force behind the house price rises.

However, many industry experts expect the Bank of England will raise interest rates to 5.5% in May, which could cool the housing market

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