Mon. Jan 25th, 2021

UK house prices rise despite general election uncertainty – business live

Rolling coverage of the latest economics and financial news

  • House prices up 0.5% in November
  • Annual house price inflation at 0.8%

7.54am GMT

Despite this month’s rise in prices, UK house price inflation is still sharply lower than before the EU referendum.

Back in 2016, house prices were rising at around 5% per year, not the sub-1% growth seen in 2019.

7.42am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

After months of being dampened down by economic and political uncertainty, Britain’s housing market may be flickering back to life.

“Annual house price growth remained below 1% for the 12th month in a row in November, at 0.8%, though this was the strongest outturn since April.

Indicators of UK economic activity have been fairly volatile in recent quarters, but the underlying pace of growth appears to have slowed as a result of weaker global growth and an intensification of Brexit uncertainty. To date, the slowdown has largely centred on business investment, while household spending has been more resilient.

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