Monday 1 August 2016

Brexit Britain's House Prices grew last year

Houses in Britain grew in value by £2,400 in the month to June 2016, despite EU referendum jitters and the stamp duty levy.

The added value equated to 8.1pc in the year up to an average of £211,230

The figures, released by the ONS, will reassure those in the property market, who can take solace in the fact that property held up in the face of adversity in the lead up to significant changes in the sector.

The increase of £2,400 (1.1pc growth) was bigger than in both April and March, though it was understandably driven by price growth in the South East and London.

The new ONS figures - released in partnership with the Land Registry - is a month behind other leading indices like Halifax and Nationwide. Therefore, the EU referendum result will only likely be documented and realised in results published later in the year.

Source: This is Money

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