Housing-obsessed Britons have something new to fixate on: property prices may have increased more than previously thought. A new official house-price index, designed by the Office for National Statistics, shows values rose an annual average of 6.1 per cent between 2003 and 2011. That's substantially more than the Land Registry's estimate of 4.6 per cent. The updated methodology seeks to clarify the...
UK Property Prices
Home prices in the United Kingdom declined last month and may fall "modestly" this year because of a weak economic recovery, Nationwide Building Society said yesterday, but the London market that is popular with Singaporean and other Asian investors stayed resilient. The average cost of a home slipped 0.1 per cent to £162,262 (S$ 321,900) in December from the previous month, the UK lender said. From a...
British house prices fell at their fastest annual pace in nearly three years last month, data from mortgage lender Nationwide showed on Wednesday, as the effects of nine months of recession spread further across the economy. Nationwide reported a 0.7 per cent decline in house prices in July. Prices are now 2.6 per cent lower than a year ago - their biggest annual fall since August 2009. Britain's economy...