mortgage rates, supply, and demand on the market. If demand outweighs supply, house prices are likely to increase. The United Kingdom (UK) has some of the highest average house prices in Europe.
House prices are affected by multiple factors, such as Average house price in the United Kingdom (UK) from January 2007 to February 2020 (in GBP)
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Office for National Statistics (UK). (April 30, 2020). Average house price in the United Kingdom (UK) from January 2007 to February 2020 (in GBP) [Graph]. In Statista. Retrieved January 16, 2021, from https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK). "Average house price in the United Kingdom (UK) from January 2007 to February 2020 (in GBP)." Chart. April 30, 2020. Statista. Accessed January 16, 2021. https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK). (2020). Average house price in the United Kingdom (UK) from January 2007 to February 2020 (in GBP). Statista. Statista Inc.. Accessed: January 16, 2021. https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK). "Average House Price in The United Kingdom (Uk) from January 2007 to February 2020 (in Gbp)." Statista, Statista Inc., 30 Apr 2020, https://www.statista.com/statistics/751605/average-house-price-in-the-uk/
Office for National Statistics (UK), Average house price in the United Kingdom (UK) from January 2007 to February 2020 (in GBP) Statista, https://www.statista.com/statistics/751605/average-house-price-in-the-uk/ (last visited January 16, 2021)