On any other day of the week the Guardian is – with some justification – complaining about a housing crisis, with millions of young people priced-out of ever owning – or even renting – a decent home. Now, however, it seems to be treating with alarm news that prices are stagnating. ‘UK house prices take pre-Brexit hit, says Nationwide’ declared a headline this week – followed by news that house prices have, in fact, risen by 0.5 per cent over the past 12 months. That is a lot lower than we have become used to in recent decades, but isn’t it a good thing if rampant house price inflation has come to a halt? And is it really connected with Brexit?
The housing market – outside London – never returned to the mania of pre-2008. Prices, and volumes of sales, have recovered but remained subdued ever since that crisis.
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