Skip to content
Subscriber Only

Work From Home Is Driving U.K. Property Price Surge, BOE Says

  • Space has become more valuable since homes double as offices
  • High loan-to-value mortgages help consumers afford to pay more

Photographer: Leon Neal/Getty Images

The Bank of England said working from home is helping lift house prices in the U.K. by making consumers willing to pay more for space.

Deputy Governor Ben Broadbent said the recent surge in property prices reflects a shift in preferences for bigger houses, since more consumers expect to need office space at home. Governor Andrew Bailey said a proliferation of high loan-to-value mortgages also is helping consumers afford to pay more.