‘Frenzied Buyer Activity’ Drives UK House Prices To New High

Months of “frenzied buyer activity” have driven the average asking price for a home in Britain to a new high, according to the property website Rightmove. The property portal said it expected figures to show that June was the busiest month on record for sales, with buyers rushing to complete before stamp duty rules change in parts of the United Kingdom. On 30 June, a temporary tax break on the first £500,000 of the cost of a residential property in England and Northern Ireland began to be phased out, with the threshold cut to £250,000. Wales ended its temporary tax break entirely, while Scotland’s had finished at the end of March. Read more on the Guardian website.

https://www.theguardian.com/money/2021/jul/19/frenzied-buyer-activity-drives-house-prices-to-new-high