House prices boosted by 'significantly improved' mortgage market

The latest LSL house price index found that the average house price in England and Wales stood at £231,170 at the end of April, up 3% on the previous year. Richard Sexton, director of e.surv, said that Funding for Lending and other government schemes were reinvigorating mortgage lending and pushing up property prices. "The catalyst has been a significantly improved mortgage market," he said. "Sales are 18% higher than they were last year, reflecting the improved conditions for buyers. A plethora of excellent mortgage deals are surfacing, cheaper mortgages have trickled into the mar...