UK house prices see biggest jump since 2016 to hit fresh high – but it won’t last long, say property experts

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UK house prices see biggest jump since 2016 to hit fresh high – but it won’t last long, say property experts
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UK house prices see biggest jump since 2016 to hit fresh high, survey says

The Halifax House Price Index, which is run by analysis company IHS Markit, found that U.K. house prices grew by 5.2% in August compared to the same month last year. It marks the strongest annual growth in prices since the end of 2016.

However, Galley said it was "highly unlikely that this level of price inflation will be sustained," despite a boost from these positive factors in the short-term. "Two months of surging prices, in what the Halifax itself has described as a 'mini-boom', has powered the property market to a golden summer," he said in a statement.

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