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House prices make biggest jump ever, going up by 10,000 in one month


05-20-2014

 

House prices in Britain leapt an incredible 10,000 between April and May - the biggest ever month-on-month jump ever recorded.

The dizzying ascent came as the Bank of England moved to cool the housing market, suggesting a cap on mortgages could be introduced.

According to property website Rightmove, house prices went up by 9% over the last year, taking average prices to a new high of 272,003.

The largest increases were seen in London, which has seen a year-on-year rise of 16.3%, while the rest of the country is seeing a less vertiginous upturn, recording year-on-year rises of 4.9%.

The figures were released soon after Bank of England Governor Mark Carney said the bank was considering reducing mortgages in proportion to salaries, and he has previously mentioned the introduction of new affordability tests.

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