Market comment - Rightmove asking prices see slow 0.4% gain in April

Davy Research
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Rightmove data released overnight show UK asking prices up 0.4% in April to £305,700. Annual price inflation was 1.6%. London prices fell 0.6%, down 1.6% on the year to £628,000. Ahead of a likely Bank of England rate hike in May, competition between banks has offset the impact of higher interest rates. In March, the average quoted interest rate on two-year fixed, 90% loan-to-value (LTV) loans was 2.21%, down from 2.36% in October.