UK house prices hit two-year high

Business / Sat 7th Sep 2024 at 01:35pm

HOUSE prices in the UK reached a two-year high in August and the recent interest rate cut has increased confidence among homebuyers, the UK’s largest mortgage lender has said reports the BBC.

Halifax said prices last month were up 4.3% compared to last year, taking the average cost of a UK property to £292,505.

The lender, which is owned by Lloyds Banking Group, said that buyers have been boosted after the Bank of England reduced interest rates at the beginning of August, in the first cut for four years.

https://www.bbc.co.uk/news/articles/cr4091rzy2wo

1 Comment for UK house prices hit two-year high:

adam

2024-09-07 14:16:05

This is not a good thing, it is just trapping more people in debt. in a country with a average wage of 33K the avg house price should be 100K ish. Low house prices are good for everyone they free you from the terror of losing your home should you lose your job or become seriously ill and unable to work etc. Sadly banks and governments have manipulated the market far to much as it is about the only industry left in the UK selling over priced houses to each other.