Despite the impending interest rate hike in May, UK house prices are still on the rise. In April, prices increased by 0.9 percent compared to March. Annual house price inflation stood at 10.2 percent, just fractionally below the two-year peak of 10.5 percent reached last December. According to the Nationwide building society, the average home price is now £180,314.
This miserable news means that prices have even further to fall once the bubble bursts. And it will burst.