UK House Prices

The Bank of England (BoE) announced the most significant upgrade to its economic outlook for a quarter of a century this week but scope for further optimism about UK growth prospects is limited by residential mortgage costs that could soon swallow two-thirds of take-home pay for some borrowers.

Pantheon Macroeconomics is forecasting only modest rises in house prices in 2022 as real incomes take a hit from rising inflation and tax increases.

UK house prices have reached an all time high according to a regular monthly assessment of the market, although 2022 should see a buoyant market rationalise amidst increasing mortgage costs.

UK house price growth notched its second-largest monthly gain in 15 years in August.

A much-watched measure of UK house prices showed prices fell in July and economists say the recent surge in prices might finally be peaking, although industry professionals and economists don't expect material price declines on the horizon.

Annual house price growth in the UK rose to 13.4% in June, the highest level since November 2004, but economists says we could be approaching the 'high water' level in the market.

The 'easy money' made available by the world's central banks has created a "global property bubble of epic proportions" according to new research.

The UK's double-digit house price increases are just part of a synchronised global asset boom that could be a cause for worry, according to a leading independent economic research house.

UK house values are surging in price in a "space race" that sees buyers seeking more indoor and outdoor space in the wake of the pandemic, but economists says the trend is likely to continue until the fourth quarter of the year.

A much-watched survey of UK house prices shows a sharp rise in prices underway as demand outstrips supply and leads one economist we follow to say the market is now overheating, although a sharp cooling down is expected next year.

Uncertainty about the length of the path back to the pre-coronavirus economy is tempering the outlook for the housing market, which suffered a fourth consecutive price decline last month even though values continued to rise over the year to June, according to the latest Halifax House Price Index.  

The UK housing market is creaking, Royal Institute of Chartered Surveyors (RICS) data showed on Thursday, as homeowners increasingly hold off on selling properties and affordability issues keep many prospective buyers on the sidelines. 

The latest set of Nationwide house prices showed a rise in residential property prices to the tune of 0.5% on a month-on-month basis in June, beating the consensus forecast for 0.3%.

A standout on the data calendar of early May has been the marked slowdown and reversal in UK house price growth as detailed by survey data, with the Royal Institution of Chartered Surveyors (RICS) providing the latest evidence of this trend.

Raising stamp duty on prime properties sees Exchequer miss out on ~0.5BN Pounds in lost revenue as sectoral activity dips.

Mid-week trade sees Pound Sterling continue to hold recent gains but analysts warn of the potential for a break lower.

UK economic growth has defied expectations and risen at a greater-than-expected rate for the period leading up to the EU referendum. A weaker Pound can be thanked.