British house prices are rising at the fastest rate since before the global financial crisis as a shortage of sellers continued to pump up the housing market, mortgage lender Halifax said on Monday.
That brought the average price of a house in Britain to 278,123 pounds , up 10.8% on a year ago and marking the fastest annual growth rate since June 2007.The housing market has been hot in Britain - and many other countries around the world - since the lifting of the first coronavirus lockdown in 2020, boosted by demand for bigger properties as more people worked from home.
The British market was also stoked by a tax incentive offered by finance minister Rishi Sunak that fully expired at the end of September, when a jobs support programme also lapsed. "With new supply limited and mortgage rates still relatively low, we suspect that house price growth will remain buoyant for several months yet," said Andrew Burrell, chief property economist at consultancy Capital Economics.In the longer term, Halifax said there were reasons to think house price growth would ease - not least because of surging inflation, tax hikes and rising interest rates.
"These factors are likely to weigh on buyer demand as the year progresses, with market activity likely to return to more normal levels and an easing of house price growth to be expected," Galley said. Reporting by Andy Bruce; Editing by James Davey and Alex Richardson
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Ozzy & Sharon Osbourne Leaving L.A. for U.K. to Avoid Soaring Tax RatesSharon and Ozzy Osbourne are done with L.A. ... in fact, they're bailing from the U.S.
Les mer »
Rolling Stones to play first UK tour since death of Charlie to mark 60 yearsMick Jagger and Keith Richards and Ronnie Wood are set to hit the road this summer with UK gigs to mark their landmark year in music – with a new album coming too
Les mer »
U.K. crackdown on Russian oligarchs may spell the end for ‘Londongrad’The British capital dubbed “Londongrad” because of its popularity with Russia’s wealthy and Kremlin-aligned elite is no longer quite as welcoming after Russian President Putin’s invasion of Ukraine.
Les mer »
Audi R8 Owner Charged Over $41,000 Over Gearbox Issue In The UK | CarscoopsYour semi-regular reminder that used supercars actually cost significantly more than you might think
Les mer »
Angry Dock Workers in the UK Are Refusing to Unload Russian Oil Due to Ukraine InvasionTough sanctions mean that Russian ships can’t dock at British ports, but a loophole means goods can still be transported via foreign ships.
Les mer »
Second attempt at cease-fire planned in Ukraine's Mariupol; UK says conflict could last yearsMariupol said a civilian evacuation will take place Sunday after a cease-fire a day earlier failed.
Les mer »