LONDON (Reuters) - A rush by home-buyers to beat an end-of-June deadline for a tax break and a shortage of properties on the market helped to push a m.
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By Syndicated Content
May 12, 2021 | 6:10 PM
LONDON (Reuters) â A measure of British house price inflation hit its highest level in four decades in April as buyers raced to take advantage of an extended tax break just as sellers retreated from the market, a survey showed on Thursday.
The Royal Institution of Chartered Surveyorsâ gauge of house prices â which reflects the proportion of surveyors reporting price increases â jumped in April to +75, its highest level since the 1970s, from +62 in March.
Other indicators have also shown that a surge in the housing market was given fresh momentum by finance minister Rishi Sunakâs announcement on March 3 that he was extending temporarily a cut to a tax on property purchases.
United KingdomUK house price gauge hits highest since 1988 - RICS
Reuters
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Estate agents boards are displayed, amid the spread of the coronavirus disease (COVID-19), in Apsley, Hertfordshire, Britain, October 12, 2020. REUTERS/Matthew Childs/File Photo
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(This May 12 story corrects to show index at highest since 1988, not 1970s, in headline, paragraphs 1-2)
A measure of British house price inflation hit its highest level since the late 1980s in April as buyers raced to take advantage of an extended tax break just as sellers retreated from the market, a survey showed on Thursday.
The Royal Institution of Chartered Surveyors gauge of house prices - which reflects the proportion of surveyors reporting price increases - jumped in April to +75, its highest level since 1988, from +62 in March.
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