Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

UK house price growth hits 19-year high of 15.5% in July due to tax effect

Published 09/14/2022, 04:43 AM
Updated 09/14/2022, 02:22 PM
© Reuters. An estate agent's board is displayed outside a house on a terraced street in Blackburn, Britain, January 17, 2022. Picture taken January 17, 2022. REUTERS/Phil Noble

LONDON (Reuters) - British house prices leapt in July by 15.5% in annual terms, the biggest increase since May 2003, reflecting how prices in the same month last year were hit by the end of a tax break for home-buyers, the Office for National Statistics said.

July's increase represented a sharp jump from June's 7.8% rise in prices which was a sharp slowdown from May.

A Reuters poll published last month showed the surge in British house prices is expected to end next year as the cost-of-living crisis and rising interest rates put the brakes on the market.

(This story has been refiled to add dropped word in headline)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.