British housing market called 'robust'

LONDON, May 10 (UPI) -- Britain's biggest mortgage lender says the housing market is "robust" despite concern over possible higher interest rates.

Halifax says house prices rose by nearly 75 pounds (about $149) a day last month with a shortage of new and used homes fueling a property boom, the Times of London reported.

It was only a 1.1 percent increase in April, smallest since last July, but inflation was running at 10.9 percent and the average house price in Britain was 196,745 pounds (nearly $392,000).

Last year Halifax was predicting an annual price inflation of 4 percent for 2007.

"It's still robust," Martin Ellis, the chief economist for Halifax, said. "It's still a strong housing market."