House price inflation hits 10.5%, says the Nationwide

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From The BBC

The annual rate of UK house price inflation has hit double figures for the first time since June 2007, according to the Nationwide.

The building society said that house prices in the UK had risen by 10.5% in the year to the end of April.

Prices rose by 1% in April to push the cost of the average home to £167,802.

However, the Nationwide predicted that the past year's surge in prices would tail off later this year, with sellers starting to outnumber buyers.

[andyphillip]

Property prices are increasing by at least 10-15% each year. When I bought my apartment near Split last year, property prices were averaging 1.400euro/m2.
This year they are typically 1.900/m2. With their entry into the EU this will only increase further. There is also a good rental yield of 6-7%, depending on location and marketing.

[Jumpin]

I have to say I am stunned by this. With the state of the economy in the UK, these sort of growth rates are unsustainable. Proposed increases in tax and cuts to benefits will deal to this very quickly imo.

[Luanne Cortney]

Estate agents have reported that higher prices and confidence have led to more properties coming onto the market.