UK house prices leapt another 9.5% in the year to May,
boosted by the government's stamp duty holiday which ends this month. The
Halifax said prices rose by more than £22,000 to an average of £261,743. But it
said buyer preferences are shifting "in anticipation of new, post-pandemic
lifestyles". "There's greater demand for larger properties with more
space," said Halifax managing director Russell Galley. He said this was
leading to "an increased willingness to spend a higher proportion of
income on housing". Halifax said annual house price inflation was at its
strongest level in nearly seven years, with UK prices rising by 1.3%
month-on-month. Read more on the BBC website.
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