The speed UK property prices are surging at is “approaching madness”, analysts have warned, after UK data showed house prices jumped 2.4% in February alone, the biggest monthly increase in five years. According to the Halifax House Price Index, prices also surged 7.9% year on year to an average of £179,872. This marks the strongest price gains since October 2007, prior to the global financial crisis. Speaking to the Telegraph, Oliver Atkinson, said in parts of Britain “the momentum is approaching madness, as price rises continue to accelerate” Interest rates will rise six fold by 2017, the Bank of England Governor Mark Carney said yesterday. The increase to more “normal” levels is likely to plunge many borrowers into financial difficulty

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