House prices rose 10.9% in the UK in January. A 2.1% increase in property purchased over the month means that the price of an average UK house is now £205,286 (over 400,000 USD) in London the average price is now £305,248.
For the three months to January, house price inflation was 9.9% for the UK and 11.6% for London. Northern Ireland once again saw highest rises, with year-on-year increases of 42.5% .
So no property crash yet, although people have been predicting one for years. It certainly is strange that prices keep going up, how on earth first-time buyers manage to buy anything I'll never know. Shortage of supply is apparently the main reason for the continued upward trend.
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