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Not quite ‘as safe as houses’. The rising cost of bricks and mortar

House prices rose by around 10% in 2021 – their fastest pace in 15 years – but that is no guarantee of what may come in 2022. Relying on bricks and mortar to boost your finances may no longer be as attractive as it once was.

Just as inflation enjoyed an unexpected leap in 2021, so too did house prices. According to Nationwide, the average UK home rose in value by 10.4%, while Halifax put the increase at 9.8%. This has been the sharpest rise in house prices since 2004 although, as ever, the UK average figure hid significant regional differences. At the bottom rung of the property ladder, Halifax says that London prices rose by 4.2% - below inflation – while at the top, Wales saw prices rise by 15.8%. Nevertheless, the average London home still costs more than two and a half times its Welsh counterpart!

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