Search

U.K. House Prices Rise More Than 1% for the First Time in a Year - Mansion Global

U.K. property prices closed out last year 1.4% higher than they had been the year previously, the first time the level of price growth surpassed the 1% mark in 12 months, according to a report Friday from Nationwide.

The average U.K. house price now stands at £215,282 (US$281,425), the bank and mortgage provider said.

More: Tech Tycoon Listing Silicon Valley Mansion With Ice Rink and Putting Greens for $53.8 Million

On a month-to-month basis the level of growth was more moderate, inching up just 0.1% compared to November.

Though Brexit and political uncertainty has injected a large dose of volatility into the market, offsetting the drag of the uncertain economic outlook has been a healthy job market combined with low borrowing costs, the report said.

“The U.K. property market was always likely to demonstrate a slight festive lethargy on a month-to-month basis in December, and while we didn’t quite finish the year with a bang, the first annual increase above 1% in as long as a year is certainly something to toast to,” Marc von Grundherr, director of estate agency Benham and Reeves, said in a statement.

From Penta: Why the Picasso Damaged at the Tate Won’t Necessarily Drop in Value

“It’s been a rough ride of late, and while we’re unlikely to see any immediate New Year’s resolutions where the rate of house-price growth is concerned, there are still plenty of positives to take into a new decade,” he said.

Scotland saw its prices rise the most in the last three months of the year, up 2.8% from the same timeframe in 2018. The West Midlands, home to the cities of Birmingham and Coventry, followed with prices increasing 2.7%.

London was the weakest performing region in the fourth quarter of 2019, with prices 1.8% lower than the same period of 2018, the 10th quarter in a row that prices have fallen in the capital, according to the report.

Let's block ads! (Why?)



"House" - Google News
January 04, 2020 at 04:38AM
https://ift.tt/2SSmAO4

U.K. House Prices Rise More Than 1% for the First Time in a Year - Mansion Global
"House" - Google News
https://ift.tt/2q5ay8k
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini

0 Response to "U.K. House Prices Rise More Than 1% for the First Time in a Year - Mansion Global"

Post a Comment

Powered by Blogger.