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Uk House Price Growth Highest

Posted on Tuesday, 05 February 2008 09:37AM by Property Team
The UK has come top of a long-term house price table of leading industrialised nations when it comes to price growth.

Swiss institution the Bank for International Settlements (BIS) surveyed 18 countries in its Real House Price survey, which showed that between 1970 and 2006 UK Property had the highest average rate of price inflation at 4.14 per cent, Finfacts reports.

The second highest figure was in Spain (3.95 per cent), with Ireland third on 3.9 per cent and Belgium fourth on 3.58 per cent.

While this indicates that potential difficulties for first-time buyers in the UK are greater, the long-term worth of homes as assets is also likely to be higher.

It also suggests that Spain may be the best long-term bet for those interested in overseas property.

Last week's figures from Nationwide for house price growth in 2007 put the annual figure slightly higher than the BIS long-term average at 4.2 per cent.



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