As per the latest media reports, housing prices in England have been rising dramatically.

This has put a significant stress on the already poor affordability of the people wishing to have a house of their own.

The latest media reports say that the housing prices in England have risen remarkably. While the average house price for the month of May was ₤188,290, the same rose to ₤190,051 in the month of June, says the figures of Department of Communities and Local Government (DCLG). Compared to the same period last year, the housing prices are 5.6 per cent higher.

Howard Archer, chief economist for the Global Insight, has opined that the rising prices will test the affordability of the people. He has also said that the prospective house buyers in England will be concerned about the fact that the interest rates are going to rise before the end of the year.

Buying their dream home is therefore going to be tough for the people of England. They can derive consolation from the fact however that the housing prices in Scotland have seen a rise of 9.3 percent and compared to that the prices in England are at least lower.

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