House price survey shows UK inflation highest

A survey of long-term house price inflation trends in leading industrialised nations has revealed that the UK has seen the highest rate of price growth.

The study by the Bank for International Settlements (BIS) in Switzerland showed that between 1970 and 2006 the UK topped the table of 18 nations with an average annual increase in price of 4.14 per cent, Finfacts reports.

Spain was second on 3.95 per cent and Ireland third on 3.9 per cent.

These findings suggest that those looking to get on the housing ladder may find doing so progressively harder in Britain to a greater extent than elsewhere.

Some may consider using the self build option as an alternative means of acquiring their own home.

Nationwide Building Society revealed last week that its figure for house price inflation in 2007 was 4.2 per cent, above the long-term average in the BIS study.


© Adfero Ltd