End Of Stamp Duty Holiday Sees Average House Prices Surge

The price of an average house is now as expensive as it has ever been, standing at just over £267,500, according to data from Halifax, who report that following the end of the stamp duty holiday last month, house price growth saw its strongest month since 2007. In June 2020, the month before the stamp duty holiday began, the typical standardised price for a UK property was £239,317. Therefore a home-mover would have faced SDLT costs of around £2,300. From July last year, the zero rate introduced on homes valued up to £500,000 (falling to £250,000 between July and September this year as the holiday was tapered out) meant no stamp duty would be payable on that same property. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/halifax-end-of-stamp-duty-holiday-sees-average-house-prices-surge-to-record-all-time-high.html 

House Prices Hit Record High Despite Cut In Stamp Duty Break

The average UK house price reached a fresh record high in August while annual inflation cooled to a five-month low, after the partial end of the stamp duty holiday in England and Northern Ireland. Halifax, one of the country’s biggest mortgage lenders, said the average cost of a property increased by 0.7%, or £1,789, to £262,954, topping the previous peak of £261,642 recorded in May. The annual rate of house price inflation slowed to 7.1%, the lowest since March and down from 7.6% in July. However, compared with June 2020, when the housing market began to reopen after the first Covid-19 lockdown, prices remain more than £23,600, or 9.9%, higher. Read more on the Guardian website.

https://www.theguardian.com/money/2021/sep/07/uk-house-prices-stamp-duty-august-halifax 

Help To Buy Prices Stay 'Comfortably' Below Regional Price Caps

The Whathouse? New Homes Index, which tracks Help to Buy average new build prices across Britain, has revealed that prices are comfortably below the regional price cap limits in all regions. This is, Whathouse believes, a sign that concerns over the new Help to Buy scheme - which came into effect 1 April 2021 - and potential lack of affordability are not playing out.  This provides reassurance to first-time buyers now able to benefit from the scheme, with many having made the most of lockdown to save the 5% deposit required to get onto the property ladder. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/help-to-buy-prices-stay-comfortably-below-regional-price-caps.html 

‘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 

Market Begins To Cool As Stock Levels Fall To All-Time Low

There are early signs of the UK property market beginning to lose pace due to record prices and lack of choice, according to data released by Rightmove. The portal revealed that the price of property coming to market saw a 0.8% increase this month, pushing the national average to a new record high for the third consecutive month to £336,073. This is a much smaller rise than last month’s 1.8% or April’s 2.1%, indicating an early sign of a slowing in the pace of the current market. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/market-begins-to-cool-as-stock-levels-fall-to-all-time-low.html 

Average UK House Price Falls For First Time In Months

The average price of a UK home fell 1.9 per cent between March and April but was still 8.9 per cent higher than it was in April 2020, according to HM Land Registry’s latest House Price Index. The index showed the average price of a property in April 2021 was £250,772, down from £255,707 the month before. Since at least May 2020, average house prices within the UK have increased incrementally. The increase in mortgage lending throughout March, itself boosted by the Stamp Duty holiday, to £35.6bn was thought to have boosted April’s sales, even though the average price fell. Read more on the Property Wire website.

https://www.propertywire.com/news/average-uk-house-price-falls-for-first-time-in-months/

ONS: Average House Prices Up 8.9% In April

UK average house prices increased by 8.9% over the year to April 2021, down from 9.9% in March 2021, according to the latest data released by the Office for National Statistics. Albeit slightly historic, this morning's data revealed that the trend of accelerating house price growth seen in the latter half of 2020 continued into the beginning of 2021, but has slowed to 8.9% in April. According to the report, average house prices increased over the year in England to £268,000 (8.9%), in Wales to £185,000 (15.6%), in Scotland to £161,000 (6.3%) and in Northern Ireland to £149,000 (6.0%). Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/ons-average-house-prices-up-89-in-april.html 

A Perfect Storm For FTBs As Listings Dwindle And Prices Continue To Rise

Agreed sales and average house prices have continued to rise ahead of the stamp duty deadline as the number of new listings entering the market fell for the second month in a row - a perfect storm for those attempting to get their first foot on the property ladder. According to the latest data and market analysis from RICS, during May, the number of people looking to buy a new home continued to rise, with 32% more respondents noting an increase from prospective buyers. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/a-perfect-storm-for-ftbs-as-listings-dwindle-and-prices-continue-to-rise.html 

Average Asking Price For UK Homes Hits Record £333,564

The average asking price of homes coming on to the UK property market hit a high of a third of a million pounds in May, according to figures from the listings website Rightmove. The average asking price has increased by 1.8%, or £5,767, over the past month to £333,564, the website said, with an “unexpected mini-boom” that started last year continuing well into 2021. The property market has been buoyed up by the stamp duty holiday, which was launched last summer and is being phased out in England and Northern Ireland in two stages starting at the end of June. At that point the current starting threshold of £500,000 will fall to £250,000, except for first-time buyers. Read more on the Guardian website.

Average asking price for UK homes hits record £333,564 | House prices | The Guardian 

Average House Price Hits A Record High Of £250k

House prices across Britain reached a record average high of £250,000 in the year to November, new official figures show. The average cost of a home increased by 7.6 per cent over the period, up from a 5.9 per cent rise in the year to October. London's average house price surpassed the £500,000 mark for the first time in November 2020, with prices up 9.7 per cent in the year to November. Read more on the This is Money website.

https://www.thisismoney.co.uk/money/markets/article-9167327/Cost-home-Britain-reaches-record-high-250k.html

House Prices At Record Level For Fifth Successive Month

The average house price in England and Wales now stands at £326,762, establishing a new record level for the fifth consecutive month following heightened and unseasonal activity during December. According to the latest market report from e.surv the average price of a home in England and Wales during December was 7.8% up against the same period a year earlier - a rise of this size not seen since 2016. e.surv also revealed that average house prices have seen a 51% increase over the last ten years - rising from £216,000 in December 2010 to £326,500 in December 2020. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/uk-house-prices-at-record-level-for-fifth-successive-month.html

Average UK House Prices Top £250k For The First Time In History

Newly released data from Halifax has revealed that during October, average house prices across the UK topped £250k for the first time ever following the strongest growth in over four years. Halifax data shows that on a monthly basis, house prices in October saw a 0.3% rise against September and between August and October, saw a 4.0% rise against the preceding three months. Driven by the mini-boom, research shows that house prices in October were 7.5% higher than in the same month a year earlier – the strongest growth since June 2016. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/average-uk-house-prices-top-250k-for-the-first-time-in-history.html 

Average Asking Price For Homes In Britain 'Hits Record High'

The average asking price of homes coming on to the market in Britain has hit a record high, according to figures from the property website Rightmove, and for the first time estate agents are listing more homes as sold than they have for sale. The website’s monthly snapshot of new listings showed sellers are asking for an average price of £323,530, an increase of 1.1% since last month, and 5.5%, or £16,818 more than this time last year. Read more on the Guardian website.

https://www.theguardian.com/money/2020/oct/19/average-asking-price-for-homes-in-britain-hits-record-high 

House Prices Hit All-Time High In August

The latest data and analysis from Nationwide has revealed that average UK house prices have continued to recover during August and saw the highest monthly rise in more than 16 years. According to the lender, annual house price growth picked up to 3.7% in August with prices up 2% month-on-month, after taking account of seasonal factors. August's increase was the highest since February 2004, when house prices rose by 2.7%. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/nationwide-house-prices-hit-all-time-high-in-august.html 

Average House Price In Major UK Cities Has Risen By Nearly £90,000 In A Decade

The average house price in major cities has risen by nearly £90,000 in the past decade, research shows. This is an increase of 54 per cent, according to housing website Zoopla, which looked at the 20 biggest cities. At an average rise of £89,987, this is also greater than the average uplift across the whole of the country in the period, which comes in at £62,218. Read more on the Mailonline website.

https://www.dailymail.co.uk/news/article-7819983/Average-house-price-major-UK-cities-risen-nearly-90-000-decade-research-reveals.html

Help To Buy Supports Over 320,000 People In Buying Their Own Home

The government’s Help to Buy schemes have continued their success, supporting over 320,000 people across the UK to buy a home. Over 1 million Help to Buy: ISAs have now been opened by first time buyers, offering government bonuses of up to £3,000 towards the cost of a first home.

Statistics show that:

·         over 320,000 completions have taken place using one or more of the Help to Buy schemes

·         over 275,000 first time buyers are now on the housing ladder thanks to Help to Buy

·         the average house price across the schemes is £196,092, below the average UK house price

·         over 90% of completions across the Help to Buy schemes have taken place outside of London

Read more on the CLG website.

Average House Price Is Now Eight Times The Average Wage

Analysis from the Local Government Association (LGA) reveals that in 2000 the average house price was 3.96 times the average income, whereas last year it was 7.72 times the average wage. The LGA is calling for an urgent investment in house-building and infrastructure, to deliver the genuinely affordable homes the country needs. Councils approve nine in 10 planning applications but restrictions on their ability to borrow to invest in new housing are holding them back, and the LGA is calling for these to be lifted. The last time the country built the amount of homes a year it needs, in the 1970s, 40 per cent of new homes were built by local authorities. Last year, councils lost more homes through the Right to Buy scheme than were started in the last five years. Read more on the LGA website.

How Homes Have Got Less – And More – Affordable Since The Financial Crisis

Ten years ago, the financial crisis upended the housing market. Prices went into freefall, and many areas of the country have still not recovered – while others have seen prices soar. In the intervening years the gap between the least and most affordable areas of Britain has almost doubled, according to new research by the Yorkshire Building Society. Perhaps more surprisingly, homes in 54pc of local authorities in Britain are now more affordable than they were in 2007. This is despite the fact that the average house price in Britain has risen 21pc in the same period. Read more on the Daily Telegraph website.

UK HPI: House Prices Up 5.1%

The latest data and analysis from ONS/Land Registry has revealed that average house prices in the UK have increased by 5.1% in the year to July 2017. The annual growth rate has slowed since mid-2016 but has remained broadly around 5% during 2017. According to the UK HPI, the average UK house price was £226,000 in July 2017. This is £11,000 higher than in July 2016 and £2,000 higher than last month. The main contribution to the increase in UK house prices came from England, where house prices increased by 5.4% over the year to July 2017, with the average price in England now £243,000. Read more on the property reporter website.

House Price Inflation In April At Six-Month High

Almost £3,500 was added to the value of the average house during April after the property market enjoyed a spring boost.  Data, which shows that annual house price inflation has risen to its highest level since last October, runs counter to reports from mortgage lenders and others that the market was slowing down. According to the Office for National Statistics (ONS), the average house price in the UK increased by 5.6% in the year to April – up on the 4.5% rate recorded the previous month – to reach £220,094. This was £3,491 higher than March’s figure. Read more on the ONS website.