Typical house price up £12000 in a year, says ONS – BBC News

Housing prices are on the rise in the U.K. Although there has been an expectation of a slowing market following brexit, many areas are seeing housing prices on the rise. It seems Scotland is among the highest in housing prices. Rental properties haven’t seen as much of a growth although there is a small uptick in those types of housing. It seems that brexit is causing uncertainty and the U.K. Is still doing well in spite of it.

Key Takeaways:

  • Despite a stagnant housing market, the cost of a house and the cost of renting a home, have been increasing.
  • Many predicted that the rise in house pries would slowdown following Brexit, but instead they are increasing rapidly.
  • Prices all around have been increasing in England which may be the reason for such a spike in housing costs.

“This was a £12,000 increase from the same month a year ago, the Office for National Statistics (ONS) said, despite lenders reporting a relatively stagnant housing market.”

Read more: http://www.bbc.co.uk/news/business-40259495

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