Housing in the UK rose to a new high

According to material provided by the British bank Halifax, in January of this year, residential property in the UK rose again to a recorded grade. Its cost is on average fixed at around 276.7 thousand pounds. In the first month of the previous year, it was 32.4 thousand pounds. Thus, the growth in the residential building cost over the past twelve months was recorded at 9.7%. Compared to December, the cost of residential buildings heightened by only 0.3%. According to the British building society Nationwide Building Society, last month real estate rose in price for the year at the highest rate in the last seventeen years. Many experts also believe that this year we can expect a significant slowdown in the rise in the cost of housing in the country. The main obstacle to the implementation of this projection, according to some experts, is still insufficient supply in the British housing market.

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Arseny Kudrin

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