You are here: Home - Uncategorized -

House prices still power upwards across the UK

Written by:

The average price of a house in the UK surged in January as people’s saving and investment in property sustained its confidence, according to figures from the Department for Communities and Local Government (DCLG).

The DCLG said that average prices were rising by 10.9% in a year in January, up from 9.9% in January, figures in line with other surveys from sources like Halifax and Nationwide Building Society.

A substantial 2.1% rise was recorded between December 2006 and January 2007, with the average price increasing by £4,000 in January alone.

The DCLG added that the average price of a home in the UK is now £205,286, confirming that property is a favourite UK investment for many people.

Northern Ireland saw the strongest year-on-year price growth, with annual house price inflation currently running at about 42.5% in the province.

Many experts regard this phenomenal performance as one of the effects of the peace dividend, as more people were now prepared to make a significant saving and investment in property there.

In England, annual house price inflation rose from 8.9% to 9.9% in January. This was powered by a strong performance from London, where City bonuses and an influx of wealthy foreigners, many from Russia, contributed a strong saving and investment element to the property market.



Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @MeikWiking: #Happiness has a price: £2,000. That's how much salary almost half of Brits are willing to sacrifice for more free time (vi…
  • #Happiness has a price: £2,000. That's how much salary almost half of Brits are willing to sacrifice for more free…
  • Looking for an easy way to grow your pension pot? Have you tried packed lunches? You can save hundred of pounds a y…

Read previous post:
First-time buyers eye property abroad for cheap deals

A quarter of first-time homebuyers would consider moving abroad to live more cheaply so they could save a deposit for...