A surprise increase has been caused by a shortage of
supply, says Nationwide. If Communities Secretary Sajid Javid imposes a charge
on builders' unused land the money should be handed to cash strapped council
planning departments to get developments moving. Something of a surprise from Nationwide,
which reported a 3.2 per cent annual rise in house prices in January and the
2.6 per cent recorded the previous month.
It’s the biggest increase since March 2017, and has pushed the average
price to £211,756, the highest recorded by the building society. This is eye
opening when you consider the squeeze on household budgets, the general lack of
consumer confidence, the torpid economic outlook thanks to Brexit. Read more on
the Independent website.
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