The number of homes across Britain valued at £1m or more has increased by 49% over the past year, according to figures published on Tuesday.
The spectre of property speculation is stalking Ireland once more, as soaring house prices in Dublin bring warnings that the country is in danger of repeating the mistakes that brought the economy to its knees during the financial crisis.
Tenants would need to be less than 2 feet 4 inches tall to walk to the Hendon flat’s front door
The latest mortgage lending data has added to the Bank of England's dilemma over interest rates after a sharp rise in borrowing showed the property market had regained its previous momentum.
Average house prices in London have jumped 19% in a year, with the typical cost of a property in one borough set to pass the £2m mark for the first time within weeks, according to new data.
The prices demanded by sellers putting their homes on the market have fallen for the first time this year, in the latest sign that some of the heat is coming out of the UK housing market.
Soaring house prices are likely to outstrip pay rises for at least the next five years ad possibly for decades to come, the government's official forecaster has warned.
The Bank of England's new deputy governor has signalled that an interest rate rise is edging closer after telling MPs the amount of spare capacity in the economy is lower than the Bank predicted in May.
The Bank of England signalled that it would not impose draconian measures to cool the housing market unless house prices rise by more than 20% over the next three years.