UK house prices rise for first time in five months - The Guardian

UK house prices rise for first time in five months – The Guardian

The online version of a British newspaper reports that the average price of a UK house that sold went up for the first time in five months. Experts had attributed the lack of a price increase to home buyer concern over the upcoming election. They believe the price increase was due to the fact that demand still outweighs supply of housing stock. The paper noted that the latest annual increase in house prices was only 3.3%, versus 10% in March of 2016. One expert was concerned about the housing market.

Key Takeaways:

Housing prices in the UK are climbing for the first time in five months
Uncertainty over Brexit appears to have little dampening effect on buyer demand
Economists still predict housing market will weaken in months ahead as Brexit impact takes hold on economy

“UK households put the brakes on plans to move home in May, as uncertainty over the general election put them off making big spending decisions.”