UK House Prices Rise in December Amid Increased Mortgage Lending
House prices in the UK continued to climb for the fourth consecutive month in December,
driven by a surge in mortgage approvals to their highest level in two years.
Content:
United Kingdom
According to a report released by Nationwide Bank on Thursday, the average house price rose by 0.7% month-on-month,
reaching £269,420 ($338,000). Despite this increase, the average remains slightly below the record high of £273,750 ($343,000) recorded in the summer of 2022.
On an annual basis, prices rose by 4.7% compared to December 2023. Robert Gardner,
Chief Economist at Nationwide, noted that the mortgage market and house prices demonstrated significant resilience in 2024,
despite ongoing affordability challenges faced by buyers.
All regions of the UK saw house price growth over the past year.
Northern Ireland outperformed for the second consecutive year,
with prices rising by 7.1% year-on-year, while England recorded a 3.1% increase.
Switzerland
Switzerland Moves Toward Including Bitcoin in National Reserves
News reports indicate that the Swiss Federal Chancellery has begun implementing a proposal to include Bitcoin in the country’s national reserves alongside gold.
The proposal, submitted by a coalition of ten cryptocurrency advocates,
seeks to amend the Swiss Federal Constitution to allow the Swiss National Bank to hold Bitcoin as part of its monetary reserves.
Advancing this constitutional amendment requires gathering 100,000 signatures,
equivalent to support from 1.12% of Switzerland’s population.
The initiative, launched on December 5 and officially registered in the Swiss Federal Gazette on December 31,
has 18 months to collect the necessary signatures before submission to the Swiss Federal Assembly for review.
The proposal, titled “For a Financially Sound, Sovereign, and Responsible Switzerland,
” aims to amend Article 99 of the Swiss Constitution to mandate that the Swiss National Bank hold part of its reserves in gold and Bitcoin.
Reports suggest that this initiative could mark a significant step toward Switzerland’s official adoption
of Bitcoin as part of its monetary reserves, enhancing its financial independence and ability to navigate global economic fluctuations.
UK House Prices Rise in December Amid Increased Mortgage Lending