U.K. house-price growth eased in January, according to an index by the Royal Institution of Chartered Surveyors, which said a shortage of properties for sale will continues to support values.
London households are set to benefit most from the U.K. recovery, widening the economic divide with other parts of the country, YouGov Plc said today.
The pound fell to a three-week low versus the dollar after a gauge of U.K. house prices declined in December, fueling speculation the economic recovery is losing momentum.
A U.K. house-price index stayed close to the highest in more than a decade last month and the outlook for the coming quarter improved amid a lack of supply.
Bovis Homes Group Plc said sales climbed 19 percent last year as the U.K. homebuilder sold larger properties on more valuable sites in southern England.
Bank of England Governor Mark Carney flew 3,500 miles to deliver a speech in New York this month. The first question from the audience? U.K. house prices.
London will lead U.K. house-price gains next year as demand increases and the number of homes being put up for sale stagnates, the Royal Institution of Chartered Surveyors said.
The U.K government should review its Help to Buy mortgage-guarantee program in light of soaring home prices in London and the surrounding region, Business Secretary Vince Cable said.
A U.K. house-price index rose to the highest in more than a decade last month as government measures boosted homebuying and supply failed to keep up with demand.
The pound rose to the strongest level in more than two years against the dollar after reports showed U.K. house prices and industrial production increased and the trade deficit narrowed.