UK house prices grow at fastest rate for 17 years
The Guardian says UK house prices grew at the fastest annual pace since 2004 in March, continuing the ascent to new record levels – a fifth higher than at the start of the coronavirus pandemic.
Prices rose by 14.3% in the year to March, the strongest pace of increase since November 2004 when the UK experienced a housing boom that preceded the financial crisis, according to Nationwide, the UK’s largest building society.
The price of an average UK home hit £265,312, more than £33,000 higher than March 2021. Price rises were evident across the country, with prices in Wales soaring by 15% over the year. House price growth accelerated in every region of England and Scotland.
Detached homes have gone up nearly £68,000 in price since the start of pandemic, a 22% rise, as people working from home sought out bigger properties, while average flat prices have increased by £24,000, or 14%.
https://www.theguardian.com/business/2022/mar/31/uk-house-prices-grow-at-fastest-rate-for-17-years
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