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Annual house growth accelerated to 10.6% in August, up from 8.5% in July as buyers rushed to beat the end of the stamp duty holiday, the latest official figures reveal. Office for National Statistics data show that the average house price across the UK reached £264,000 in August, an increase of £25,000 compared to
House sales slumped nearly two thirds last month as the main deadline for the stamp duty holiday passed.
Property transactions in the UK leapt 180% year-on-year in April, according to HMRC - but numbers fell significantly between March and April 2021 as buyers anticipated an end to the stamp duty holiday.
UK house price growth hit double figures in the year to March, with the average property worth £24,000 more than it was this time last year at £256,000 according to the ONS.
London houses now average £500,000, as UK-wide prices rise at fastest rate in 14 years Multiple national lockdowns have spurred many homeowners and potential buyers to revaluate their needs when it comes to house buying. UK house prices surged at their fastest rate in almost 14 years over the past year, while London’s homes remained the priciest of any region despite the lowest annual growth. Stoked by the extended stamp duty holiday, the capital’s house prices at an average of £500,000 were the most expensive of any region in the UK in the year to March – but saw ann...