Why Your House Price Might Keep Going Up
This isn’t the first boom in property prices the country has seen before. It certainly won’t be the last.
Beat the rush.
Source: Bloomberg
In polite British company, there are certain subjects that are to be avoided: politics (especially Brexit), religion and house prices being chief among them. Hence, these are inevitably where the less mannerly discourse ends up.
For those lucky enough to own their own home, house prices are up 6.5% this year, according to the Nationwide Building Society survey. It is the biggest annual gain since early 2015 and the strongest quarterly gain in over a decade. Mortgage approvals are also at their highest since 2007. It’s almost as if homebuyers don’t realize the U.K. has suffered its worst economic drop in over 300 years, resulting in 2.5 million deferrals of mortgage payments.