UK outperforming neighbours on house prices

Property price growth in the UK has exceeded that found in countries such as France, Ireland and Germany over the past five years, a new report has revealed.

A study from Halifax has revealed that only Spain has seen stronger price growth than the UK since 2002, with prices rising by 100 per cent over the period in comparison to a 90 per cent UK growth rate.

But UK performance is nonetheless far higher than the Eurozone average, which stands at 40 per cent, and also surpasses price growth in nations such as Canada and Australia.

"UK house prices have risen more rapidly than in its Eurozone neighbours over the past five years," noted Halifax group economist Tim Crawford.

"Two of the largest economies surveyed – the US and Germany – are the only ones to have seen a fall in house prices," Mr Crawford added.

UK house prices rose by 0.6 per cent in August, Nationwide reported earlier this week.


© Adfero Ltd