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UK Home Prices Are Going Nuts

Joe WeisenthalJun 5, 2014, 14:08 IST

REUTERS/Luke Macgregor

Damn, UK home prices are going nuts.

From WSJ:

Mortgage lender Halifax said the value of homes purchased by its own mortgage customers hit £184,464 ($308,922) in May, the highest price since April 2008. That marks a 3.9% increase from April-the largest monthly gain since October 2002-and an annual gain of 8.7%.

Everything in the UK is hot these days, from PMI data to real estate to labor gains. And the real estate boom, which has been discussed for awhile, now seems to be accelerating.