UK house prices raising at fastest rate in 15 years.

[Mark Rocks]

According to Halifax, house prices are rising in the UK at the fastest rate since 2007.

Defying economic expectations, prices are still increasing at an average of £370 per week two years post pandemic.

The price of a typical home has risen by more than £38,000 since February 2020, and during the last 12 months alone £27,200 has been added to the value.

“This is the biggest one-year cash rise recorded in over 39 years of index history,” a Halifax spokesperson said. This meant the average house price had hit “another new record high” of £278,123.

Would this increase in house prices make you consider selling any of your properties, or do you think this increase will pay off for you as a landlord in the long-term?

Read the full story here; https://www.theguardian.com/business/2022/mar/07/uk-house-prices-rise-at-fastest-rate-in-15-years-says-halifax