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U.K. Home-Price Gauge at 18-Year High Amid Post-Lockdown Boom

(Bloomberg) — A closely watched gauge of U.K. house-price growth surged to the highest in almost two decades last month amid a post-lockdown property boom.



a tall building in a city: Residential houses stand in Frome, U.K., on Wednesday, Oct. 7, 2020. U.K. house prices rose at their strongest annual pace since 2016 last month as Britons’ changing work patterns and a tax reduction on purchases fanned a resurgence.


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Residential houses stand in Frome, U.K., on Wednesday, Oct. 7, 2020. U.K. house prices rose at their strongest annual pace since 2016 last month as Britons’ changing work patterns and a tax reduction on purchases fanned a resurgence.

The Royal Institution of Chartered Surveyors’ measure of price movements over the past three months climbed to the highest since 2002 in September. New listings, inquiries and agreed sales all posted gains.

However, its survey found real estate agents expect a bleaker picture in the longer term. The recent winding down of the government’s furlough program is widely anticipated to push unemployment up, and the end of a temporary cut in tax on home purchases may weigh heavily on activity.

“There is increasing concern that

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Pace of home-price growth is ‘unsustainable’ in many global cities, warns UBS

The view from a Brooklyn neighborhood on Tuesday. The UBS report gave a mixed picture for New York City real estate.


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The coronavirus pandemic may have triggered the worst global downturn in more than 60 years, but home prices in the world’s biggest cities still have shot higher into the stratosphere.

Instead of a plunge, it’s been four quarters in a row of home-price growth for major cities, as governmental fiscal support and central banks’ monetary policies have kept the party going, according to a new UBS Global Wealth Management report.

As a result, it still would take 20 years for a highly skilled service worker to be able to buy a 650-square-foot apartment near Hong Kong’s city center, according to its findings.

In Paris, it would take about 17 years of work to buy a similarly sized property, while in New York City it runs closer to

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U.K. Home-Price Growth at Four-Year High in Rush for Green Space

(Bloomberg) — Surging demand pushed U.K. house-price growth to the highest level in four years as city dwellers sought homes with bigger backyards.



a tall building in a city: A terraced row of residential housing sit in the Muswell Hill district, in view of the Canary Wharf financial, business and shopping district of London, U.K., on Tuesday, July 31, 2018. U.K. house prices bucked their recent trend with a modest pick up in growth in July, according to Nationwide Building Society.


© Bloomberg
A terraced row of residential housing sit in the Muswell Hill district, in view of the Canary Wharf financial, business and shopping district of London, U.K., on Tuesday, July 31, 2018. U.K. house prices bucked their recent trend with a modest pick up in growth in July, according to Nationwide Building Society.

Inquiries, sales and new listings all rose in August, according to the Royal Institution of Chartered Surveyors. Its measure of price gains was the highest since 2016, and property agents said they expect homes with outdoor space will become even more desirable as more people work remotely.

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The report comes amid concerns that the bounceback from the coronavirus is under threat from renewed outbreaks, the end of government subsidies and a

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