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The lender says it expects "downward pressure on house prices" in 2021 following annual rise of 6% last year.

The holiday means that homes bought for under £500,000 are exempt from paying SDLT. With the SDLT holiday due to end in March and the furlough scheme in April, both months will be extremely important for the property market and the UK economy. Mr Franks added: “The Halifax is right that unemployment levels are a key threat to property values this year, but we believe demand will remain relatively strong as it still costs less to own than to rent and borrowing is extraordinarily cheap. “During 2021, people will also continue to change their living arrangements as companies adapt their rem...

UK house price grew 6 per cent on a yearly basis in December 2020, shows new data from Halifax. This leaves the average house price at £253,374, little changed from November’s average price, due to a monthly rise of just 0.2 per cent. This is, in fact, the smallest monthly rise seen in the last six months, which have

BBC News By Simon Read UK house prices climbed 7.5% in 2020, the highest growth rate for six years, building society Nationwide found. Prices ended the year 5.3% above the level prevailing in March, a resilience that seemed unlikely at the start of the pandemic, it said. Housing demand has been buoyed by a raft of policy measures and changing preferences due to the pandemic. House prices were 0.8% higher in December than November, with the average property valued at £230,920. "The furlough and Self Employment Income Support schemes provided vital support for the labour market, while a host ...