LONDON -- As the U.K. government prepares to announce provisions to address the housing crisis, prospective buyers are returning to the market but many are stopping short of making purchases.
Some U.K. house builders have reported sales growth this year, and reports by the Royal Institution of Chartered Surveyors and others suggest that both sales and mortgage approvals rose slightly recently.
More people also viewed homes in March, and prices have edged up. Lender Nationwide Building Society said the price of a typical house increased in March for the first time since October 2007, rising 0.9%, reducing the annual rate of decline to 15.7% from 17.6%. Bank of England figures show an increase in mortgage approvals in February.
But industry observers said the rise in house prices could be temporary. Prices still are at historic lows, and there is little evidence that the market is stabilizing.
