Average house prices increased by 13.2 % over the year to June
Average house prices increased by 13.2% over the year to June – the highest annual growth rate since November 2004, according to the latest UK House Price Index from the ONS.
UK average house prices reached a record high of £266,000 in June – some £31,000 higher than this time last year. Average house prices increased over the year by 13.3% in England, 16.7% in Wales, 12.0% in Scotland and 9.0 % in Northern Ireland.
Iain McKenzie, chief executive of the Guild of Property Professionals, sees it this way: “Despite the winding down of the stamp duty holiday and more people feeling the pressure to return to the office, all the elements are still in place for house prices to remain higher than usual for the foreseeable future.
“With demand for properties still ever-present and estate agents across the country facing a smaller pool of homes to sell, many prospective buyers will also be sitting on their deposit until the perfect home comes along. This factor will keep prices higher in the long term.”
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