House prices had been rising at about 5 per cent a year before the vote for Brexit in June 2016Property prices rose at their fastest rate in more than a year this month in a sign that the housing market has benefited from a post-election boost. After a year in which property values struggled to climb more than 1 per cent, house prices rose 1.9 per cent in the year to January, according to the Nationwide Building Society. At £215,897, the average price of a home in Britain is 0.5 per cent higher than in December. Economists said that last month’s general election result had released significant pent-up demand in the market. “There is compelling evidence that the housing market has got an initial leg-up from increased optimism and reduced uncertainties following the decisive general election result as well as greater near-term clarity on

Source: The Times January 30, 2020 00:00 UTC