UK housing market ''outperforms'' most Eurozone countries


Fri 31st Aug, 11:28:31 BST

The price of a house in the UK has risen further in the last five years than homes in all but one country inside the Eurozone, according to a new report.

Halifax said that house prices in the UK had increased by 90 per cent, compared to an average rise of 40 per cent for the 12 countries, including Germany and Italy, which have adopted the euro as their currency.

Despite this, Tim Crawford, group economist at Halifax, said: "[UK] house price growth, however, has slowed in the past couple of years compared with the likes of Belgium and France recording bigger increases."

Spain was the only country where property prices rose higher, with the nation seeing a 100 per cent increase in the cost of buying a home although the average price there remains lower than in the UK.

Germany was the sole country to see homes fall in value over the last five years, with property prices dropping by five per cent.

Recent figures released by Nationwide building society indicated that UK house price inflation was beginning to slow, predicting that house prices would grow by between five and eight per cent this year. ADNFCR-1143-ID-18263650-ADNFCR


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