House Prices Jump 9.5% As Buyers Seek Larger Homes

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.

https://www.bbc.co.uk/news/business-57383862