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Why house prices are rising so fast in a pandemic
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Why house prices are rising so fast in a pandemic

 

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UK house prices are soaring. สล็อต168 Official figures show they have been increasing at their fastest rate for more than
a decade despite the country being gripped by a pandemic.

 

The UK's biggest building society, the Nationwide, has described the UK housing market as "buoyant".

 

Potential first-time buyers and movers may have more of a sinking feeling, as some watch the likelihood of owning move
further out of reach.

 

This is what is happening, and why.

 

House prices in the UK have generally been going up since the financial crisis. The latest official figures, for March,
show that trend speeding up.

 

Property values were 10.2% higher than a year earlier - the fastest annual rate of growth for 14 years.

 

This map from property portal Zoopla shows that, unlike recent booms, the biggest price rises have been outside of
London and the South East of England.

 

The steepest increases, shown in the darker shades, have been clustered around the central areas of the UK and Wales.

 

One notable boom area has been Cornwall which, according to property sales search site Rightmove, overtook London
as the most popular search destination for property buyers.

 

Many buyers are engaged in a race for space, according to Nationwide. They want bigger homes with room to live and
work, as well as a garden, and easy-to-reach coast or countryside.

 

The trouble is they are in short supply.

 

Family homes are more popular, partly because people have reassessed their priorities during Covid lockdowns.

 

That, and the cladding crisis, have made some city-centre flats less attractive to buyers.



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