UK house prices are now 13 per cent HIGHER than before the pandemic as average property value leaps by almost £5,000 in August - despite the end of stamp duty holiday
House prices are now 13 per cent higher than before the Covid-19 pandemic as average property price growth saw a 'surprising' bounceback in August, despite the end of the stamp duty holiday. The average house price across the UK in August leapt by nearly £5,000 in the space of just one month, rising to £248,857, new figures showed. The figures come in contrast to predictions from agents, who thought the end to the Covid-19 stamp duty holiday would see demand for properties dramatically fall and take heat out of the housing market. The Government's stamp duty holiday, introduced when the pandemic hit last year, fuelled a rapid rise in house prices, but the stamp duty band was halved from £500,000 to £250,000 from July, and will revert to £125,000 from September 30. But property price growth has still seen a 'surprising' increase in August, with Nationwide Building Society figures placing it at 11 per cent higher than one year earlier. And in July this year, the ave