Homeowners could be stung by another hike in interest rates this week.
House prices soared by 2.2 per cent last month, driven by continued strong demand and a shortage of homes for sale.
The rise boosted annual house price inflation to 18.5 per cent for the year to March, up from 16 per cent in January, and pushed the average price of a house in the UK up to £151,467.
Halifax said an increase in the level of sales also suggested the market was gaining pace.
This will increase pressure on the Bank of England's monetary policy committee to raise interest rates.
Monday April 05, 2004
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