News — Housing market

House prices up by 8.4%

Bank of England Housing market

The last time I wrote about the UK housing market, back in 2012, average prices had fallen for three out of the previous four quarters, and confidence in the market had hit rock bottom. Indeed, the last time house prices rose consistently for all four quarters was back in 2007 – just before the bubble burst. When it did burst, most analysts agreed that, whatever the causes, the housing market needed to go through a substantial re-adjustment, given the bubble had pushed up house prices to unsustainable levels, with affordability falling to an all-time low. Between 2007 and 2013, the...

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