That's the story of house prices in the United Kingdom. Look at the main figure and you'll see an annualized increase of 10.5%, or 74%, over the past decade. Look closer and you'll see that, while the monthly number has risen for the eleventh consecutive month, it's only 1%. Rising interest rates and cost of living crisis threaten to cause sharp fall in UK house prices, experts forecast In the 1970s, large country houses suffered a severe blow (as owners or buyers lost fortunes in the stock markets), while smaller houses that were less expensive to manage and travel back and forth did not.
But there are increasing signs that the historically hot housing market could be facing some bumps, even if it doesn't result in a housing market crash. This continued rise in the context of Covid shows that “Britain's housing market is completely deranged from economic reality elsewhere,” said housing correspondent for news site i, Vicky Spratt.