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UK house prices fall after stamp duty holiday deadline last month

After the first monthly decline since January, the average house price in the UK reached £260,358 in June.

However, in actual prices, the average price of houses in the UK is still £21,000 higher than the same period last year, with an annual growth rate of 8.8%.

It follows a one-year gain House price As the blockade prompted people to reassess their housing needs and the chancellor’s Stamp duty holiday Inspire buyers.

Tax relief-temporary abolition of taxation on property valued less than £500,000-benefit 1.3 million buyers in the UK According to Rightmove, it closed on June 30 and is now gradually decreasing.

Russell Gurry of Halifax said: “The government’s support measures last year helped boost demand, especially for buyers looking for larger family homes in the high-end market.”

In the past year, the average price of a single house in the UK has risen by more than 10%-nearly 47,000 pounds.

“It costs more than a million pounds, [detached homes] It is now £200,000 more expensive than a typical semi-detached house,” Gali said.

According to today’s house price index, house prices in London have increased by 2.9% year-on-year, with an average house price of £511,234.

With the end of the stamp duty rebate period and 3 million workers withdrawing from the vacation plan in the fall, this is expected to slow further.

Miles Robinson of Trussle, an online mortgage broker, said: “The imbalance between supply and demand over the past year has driven prices up.”

“This Stamp duty holiday Created a record level of real estate demand, because home buyers hope to save huge taxes. However, this demand far exceeds the supply of houses entering the market, which has fallen to its lowest level since 2013. “

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