U.K. House Prices Surge Strongly

U.K. house prices rose the most in more than six years this month amid a continued increase in demand that’s prompted Chancellor of the Exchequer George Osborne to seek an annual review of his plan to aid homebuyers.

Average values in England and Wales rose 0.5 percent after a 0.4 percent gain in August, the most since May 2007, London-based property researcher Hometrack said in a statement today. Annual price inflation accelerated to 2.4 percent.

Osborne said last week he’ll introduce annual checks with the Bank of England of his Help-to-Buy program as he responds to concern the plan may be fueling a bubble. Hometrack’s report follows data from Nationwide Building Society showing home-price growth quickened this month and a statement from the BOE that it’s alert to any risks to stability from the housing recovery.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.