The terms “quantitative easing”, “unfriending” and “Glam-ma” all have one thing in common: they have been added to the dictionary in the last decade. However, of all of those terms, …
Britain is currently in the midst of a housing crisis. House prices continue to rise, pushing many would-be homeowners out of the market. Now the Campaign to Protect Rural England (CPRE) has released a statement claiming that the solution to the problem could be to rethink the amount so-called “brownfield” land available in England and Wales. The organisation says that there are sufficient brownfield sites across the two countries for the development of more than a million homes.
Surveys have shown that home prices have slowed down in the past year. Indeed, based on the results from Nationwide’s most recent house price index home prices have been rising at their slowest rate for almost six years. According to the Index, the prices of homes had only risen 0.5% in 2018, leaving the average UK home price at around £212,281.
According to the latest figures from Halifax, house price growth has fallen to the lowest it has been in five years. This comes after growth fell from 2.5% in September, to 1.5% in October. Figures from Halifax indicate that in October, house prices rose marginally by 0.7%, after two monthly falls. The average price of a house in the UK currently sits at £227,896.