HousePrices

UK House Prices Continue to Rise After Bank of England Cuts Rates

4 months ago

Recent data from Halifax reveals that average house prices in the UK continue to rise despite economic challenges. In August 2024, prices increased by 0.7% compared to the previous month, with an annual growth rate of 2.6%. This price increase has been facilitated by the Bank of England's reduction in interest rates, which has made mortgages more accessible for buyers. As a result, demand for housing has surged, contributing to the rise in prices.

Unexpected Decline in UK House Prices Signals Market Shift

5 months ago

According to the latest report by Nationwide, a major mortgage lender in the UK, house prices have unexpectedly recorded a decline, marking the most significant drop since June 2020. Data released by Nationwide indicates that for the month of August 2024, average house prices fell by 0.8%, bringing the typical home value down to £258,000. This unexpected downturn has raised concerns among economists regarding the stability of the housing market, especially in light of ongoing economic pressures such as rising interest rates and the cost-of-living crisis.