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Another jump in house prices confirmed by government figures

House price inflation accelerated to 10.6% in August, up from 8.5% in July as buyers rushed to beat the end of the stamp duty holiday.

Government figures from the Office for National Statistics data show that the average house price across the UK reached £264,000 in August, some £25,000 more than a year earlier.

Scotland saw the highest annual growth, with prices up by 16.9 % to £181,000; followed by Wales, where average prices were up 12.5% to £195,000; England, where prices rose 9.8% to £281,000; and Northern Ireland, where prices were up 9.0% to £153,000.

“There’s little sign of this letting up and should an increase in interest rates materialise, the likelihood is that it will be fairly palatable for the average home buyer. Therefore, we don’t expect it to have any notable impact on the nation’s insatiable appetite for home ownership and the market should continue moving forward at pace well into next year.”

 

For the full article: https://www.estateagenttoday.co.uk/breaking-news/2021/10/another-jump-in-house-prices-confirmed-by-government-figures

To discuss your property sales opportunity going forward contact June or Ashley on 01505 613799 / info@kingsleywood.co.uk