Business news from Ukraine

British housing prices close to record high

22 April , 2024  

The average cost of housing in the UK in April increased by a maximum of 1.7% in annual terms and came close to a record high, according to the real estate portal Rightmove.

According to the website, this month’s house prices averaged £372.324 thousand ($459.82 thousand), which is only 570 pounds below the historical high reached in May last year.

In monthly terms, prices rose by 1.1%.

In March, housing prices rose by 1.8% compared to February and by 1.5% compared to a year ago.

“Housing affordability remains low, but conditions in the real estate and mortgage markets remain stable, there is plenty of choice for buyers, and many sellers will realize that now is the time to negotiate prices and close a deal,” said Tim Bannister, Rightmove’s director of real estate analysis, as quoted by MarketWatch.

The number of new sellers in the British housing market in April increased by 12% year-on-year, the number of agreed transactions – by 13%, the company calculated.