Damn, UK home prices are going nuts.
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 labour gains. And the real estate boom, which has been discussed for a while, now seems to be accelerating.