Economics
U.K. House Prices Jump Most in Five Years
Strength in the housing market is in large part due to a suspension of tax on home purchases.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
U.K. house prices posted their biggest annual gain since 2015 this month as a revival in the housing market defied a wider economic malaise.
Values climbed 5.8% from a year earlier to an average of 227,825 pounds ($294,000), Nationwide Building Society said Friday. The report comes a day after Bank of England data showed mortgage approvals reached a 13-year high.