U.K. House Prices Haven't Stopped Rising Yet
Demand for property on this small island far exceeds available supply.
Still going up.
Source: Bloomberg
Double-digit surges in house prices normally lead to screams of a “bubble.” But if the latest numbers from the U.K. are any guide, there’s still momentum for this upswing. Demand for property drastically outstrips the country’s available supply.
Annual U.K. house-price growth has reached its highest level in nearly seven years at 10.9%, according to the Nationwide Building Society, which conducts the broadest survey, and index gains will likely head even higher. That’s a stark contrast to last June when year-on-year growth briefly turned negative. This boom in prices isn’t confined to high-end central London either — it’s spreading across the whole economy. There’s been a widespread uplift in home renovations too.