U.K. House Sales Surge

U.K. home prices rose to a record last month as sales reached the highest in seven years, according to Acadata.

Values rose 0.6 percent from June and were up 9.9 percent compared with a year earlier, pushing the average price to 270,636 pounds ($456,000), it said in statement today. About 90,000 properties were sold, marking a 21 percent surge over the past year.

While the report adds to evidence of a booming property market, Acadata said the national picture is being skewed by London and the south east. Other reports have indicated the market is cooling after stricter lending rules were introduced this year, and Bank of England Deputy Governor Ben Broadbent said last month that the “edge is coming off” U.K. housing.

Bloomberg

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