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UK House Prices in May Reach Highest Increase in Nearly Four Years

UK House Prices in May Reach Highest Increase in Nearly Four Years

UK house price growth in May hits a nearly 4-year high. For the best immigration news, visit the official WorldWay investment immigration website.

WorldWay Immigration7169 reads

According to comprehensive news from WorldWay Immigration: The Department for Communities and Local Government (DCLG) announced yesterday that the UK’s DCLG house price index increased by 10.5% year-on-year in May, marking the largest increase since May 2010. Meanwhile, the UK’s inflation index reached 1.9% in June, the highest since October 2012.

 

Data shows that the average house price in London increased by 25%, the highest increase since 1987. The Office for Budget Responsibility report indicates that the British people have to allocate a larger proportion of their income to housing expenses, and only an "unprecedented" increase in new housing construction can prevent this rising proportion of housing expenditure.

 

Edited by WorldWay Immigration

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