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Friday, 18 August 2017

England house prices hit new high

Edging higher

A 30-second look at what's been going down in Britain's housing markets. 

The average UK house price hit a new high of just a tad over £223,000 in June 2017. 

This is £10,000 higher than in June 2016, and £2,000 higher than last month.

England drove the gains, with prices there rising by +5.2 per cent over the year to a record high of £240,000, while prices in Northern Ireland remain more than 40 per cent below their peak. 

London has the most expensive market at an average house price of £482,000, while the industrially challenged North East was the cheapest at an average price of £130,000.

The East of England recorded the fastest annual pace of growth at +7.2 per cent, with London price growth easing back to the pack after a stellar run. 

There have been mixed messages around in the Old Dart for a while now, with the unemployment rate having dived to its lowest level since 1975 but Brexit looming overhead as a potentially disrupting factor. 

Then there are the calls to restrict immigration. 

But for now, mortgage rates remain low, first time buyers are very active, and prices continue to hit new highs. 


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