Rolling coverage of the latest economic and financial news
- Halifax: House prices hit record of £276,759 in January
- Younger generations face significant barriers to home ownership.
- Surging inflation will slow recovery in 2022, predicts EY
- Tesco chairman warns of food price inflation at 5% by spring
Halifax’s report also shows that annual house price inflation in London rose for the third month running in January, to 4.5%.
That’s double the rate recorded in December and the highest reading in over a year.
“It may seem strange to think of London as the tortoise of the UK property market but while the rate of house price growth has been accelerating at alarming rates in the majority of UK regions, the capital’s housing market has remained far more muted.
However, we’re now seeing something start to stir and London house prices have climbed at double the rate seen in December alone. The returning combination of both domestic and foreign demand is helping to rejuvenate the London market and we predict that come the end of the year, the capital will be leading the house price pack once again.”
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