House prices have risen 10 percent in the past year but the pace of growth will moderate during the rest of the decade, banking chain Halifax said on Thursday.
When Chinese insurer Anbang bid a reported £750m for the Square Mile’s Heron Tower this summer, it set a pricing record — despite the fact that some of its fellow foreign investors had already begun to sell out of the London property market.
New data from the Office for National Statistics show that the cost of renting in the capital has risen by 3.8 percent in the 12 months to June, the highest increase in the country. This reflects the longer-term trend of rising rents across all areas of Britain.
The cost of renting a home is rising at the fastest rate for more than two years as Britain’s chronic housebuilding shortage pushes living costs up.
Building new housing does not push down the price of nearby properties, according to research that runs counter to the widely held belief that the best way to make housing more affordable is to increase supply.
House prices are rising in every part of the UK for the first time since last summer as a lack of property coming on to the market drives prices upwards.
Three years before the trains arrive, London’s new Crossrail railway line celebrates a milestone on Friday when the flagship Canary Wharf station building and roof gardens open to the public.
UK house prices will only rise in a “sustained” way once housebuilding accelerates, according to Nationwide, as its latest data showed prices rose 1 percent in April, the fastest monthly rate since June.