House prices in the UK continued to rise sharply in April, but experts warn the boom may soon be over amid increasing pressure on household finances.
The average UK house price increased by 1.1 percent or £3,078 ($3,801) last month, marking the longest run of monthly rises since 2016, according to the Halifax House Price Index.
Russell Galley, managing director of Halifax, said: “This was the 10th consecutive month that property values have increased, the longest run of continuous gains since the end of 2016.”
The price of a typical British house was a new record of £286,079 ($353,312)—a rise of 10.8 percent from a year ago.
According to the report, prices have increased by £47,568 ($58,747) on average over the past two years. It took the previous 5.5 years to make an equivalent leap.
…