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UK house prices reach record high

Breakingviews - Next London, New York mayors can breathe easier

Breakingviews 3 Min Read Skyscrapers and buildings are seen at dawn looking across central London towards the Canary Wharf district, London, Britain, February 5, 2020. REUTERS/Toby Melville NEW YORK (Reuters Breakingviews) - Fuggedaboutit. That’s what London and New York would love to do with Covid-19. It won’t be easy in the new year. But the two financial capitals should start to see urban buzz return. The cities remain atop the Global Financial Centres Index. Both nonetheless face big challenges, from budget shortfalls to difficult property markets and cash-strapped transport systems. They will also both elect mayors in 2021. London, also vulnerable to Brexit, saw its housing market dry up during coronavirus restrictions. Partly thanks to tax breaks, though, prices have so far held up on year-on-year comparisons, the UK House Price Index shows.

UK House Price Index for October 2020

UK House Price Index for October 2020 The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland. From: on average, house prices have risen 0.7% since September 2020 there has been an annual price rise of 5.4% which makes the average property in the UK valued at £245,443. England In England the October data shows, on average, house prices have risen by 0.6% since September 2020. The annual price rise of 5.4% takes the average property value to £262,175. The regional data for England indicates that: Yorkshire and the Humber experienced the greatest monthly price rise, up by 2.4% London saw the lowest monthly price growth, with a fall of -1.2%

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