England-Wales house cost at 6-year high

On Monday, Hometrack, a specialist in residential property insight, said house prices rose 0.5 percent from August; the biggest month-on-month gain in more than six years in September.

Nationwide, a member of the Building Societies Association, also released data revealing the fastest annual increase of British house prices in more than three years in September.

The survey from Hometrack showed a 2.4 percent hike since the same month last year, noting it as the biggest annual increase since December 2007.

London and the southeast of England have experienced a greater price rise than the rest of the country, as the gap between supply and demand grew further, Hometrack said.

Hometrack said it expected prices to continue to rise and indicated the market’s instability over changes in housing demand and the perceived outlook of mortgage rates. The comments add to the publics worry amid the increased house prices in Britain over the past 12 months.

GVN/HE

Source Article from http://www.presstv.ir/detail/2013/09/30/326811/england-wales-house-cost-at-6year-high/

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