The British housing market, on a tear for more than two
decades with only a brief correction during the financial crisis, appears to be
set for a long pause as the government negotiates its exit from the European
Union. With average prices now at many multiples of an average salary and
prohibitively expensive in London for most people, UK house prices are set to
at best keep pace with overall inflation in coming years or even fall behind. That
is all the more notable given that the Bank of England has cut interest rates
to a record low of 0.25 percent and is not expected to move them for at least
another two years while politicians navigate Britain's uncertain path out of
the EU. Read more on the Reuters website.
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