House prices could rise by 10% a year!

From the BBC:

The rate of house price increases could soon rise above 10% a year, the Nationwide building society has said.

Its latest survey shows that the average UK house price rose by 1.2% in January, pushing the annual rate up to 8.6%.

It means the average UK home now costs £163,481.

Separately, the Land Registry survey revealed that the annual change in property prices showed a rise for the first time since May 2008.

It said that the year-on-year increase was 2.5% in December, following an eighth consecutive monthly rise.

Full article:
BBC News - House prices could rise by 10% a year, Nationwide says


So now its time to buy a house!

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Steve

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That would be nice, especially as im trying to sell my house at the moment - maybe i should hold fire a bit

Problem is I bet the interest rate will shoot up inline with house increases, now thats not such good news!

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Thanks
Clive

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