Average house prices have climbed about £20,000 in the last year, the Halifax says, as the buying frenzy prompted by the stamp duty holiday continues.
Prices are up 8.2% in the last 12 months, the highest annual growth rate for five years, it said.
Altura mortgage broker Rob Gill said "fear of missing out" (FOMO) was driving the surge.
Light at the end of the lockdown tunnel, the new government-backed mortgage guarantee scheme, and the stamp duty holiday have all played their part in driving up the volume of property completions across England and Wales, according to new data from Landmark Information Group.
The average price of a UK home jumped by 1.1% in March to a record high of £254,606 as government measures to support the market continued to drive interest from buyers.
Whether it's your first home or fifth, navigating the house buying process can be both time consuming and highly stressful, with many factors that need to be taken into consideration to ensure there are no hidden issues.
According to recent data, it’s now taking 43 days longer to sell a home due to the delays caused by the stamp duty holiday. But what has this heightened level of market activity done to the gap between the asking price expectations of sellers and the sums buyers are actually willing to pay?
Albeit slightly historic, the latest data released by ONS has revealed that UK house prices continued their upward trajectory into 2021 with a rise of 7.5% - down slightly against the previous month by a fractional 0.5%.
With the UK housing market booming its way through the pandemic, newly released research has revealed that four in ten first-time buyers have now taken advantage of the Stamp Duty Holiday.
Time and money. There never seems to be enough, particularly in the world of property. And frustratingly for those who are hoping to cash in on the stamp duty holiday, it seems you can't have both.
An extended stamp duty holiday and mortgage guarantee from the government has helped to boost homebuyer affordability. And with over 29% of all homes currently listed for sale dropping their prices, homebuyers could be quids in due to a hat-trick of savings.
The latest data and analysis from Halifax this morning has revealed that house prices, although still relatively strong, have softened slightly in February with a 0.1% dip against the previous month.
Despite the stamp duty holiday extension stealing the headlines in this afternoon's budget, the other major announcement for the property market was the confirmation of the new mortgage guarantee scheme, set to launch from April.
Continued demand for housing, regardless of the stamp duty holiday, has seen a surprise rebound in annual house price growth, according to this morning's data released by Nationwide.
About 300,000 property purchases in England could benefit from a three-month extension in the stamp duty holiday, it has been estimated, as reports suggest the chancellor could be set to prolong the tax break in next week’s budget.
The introduction of the stamp duty holiday paved the way for a property rush on a scale that has previously been unseen.
Newly released data from property insight and technology provider, Search Acumen, has revealed that the volume of property transactions registered in England and Wales saw a 27% rise between November and December 2020, largely fuelled by a rush to take advantage of the stamp duty holiday.
The prime French market is temping high-end homebuyers away from London, according to the latest market analysis from high-net-worth mortgage broker, Enness Global.
March 31st, a date that will probably be ingrained into the minds of practically everyone in the UK who is actively buying or selling a property at the moment.
Although a little historis#c, the latest official government house price data has revealed that the UK property market was still being greatly influenced by the possibility of being able to take advantage of the stamp duty holiday - with house prices up by 8.5% over the year to December 2020.
‘Holiday’ has seen house prices rise beyond capacity of first-time buyers, favouring owners over renters, campaigners say.
Rishi Sunak is facing calls to scrap stamp duty completely rather than extend the current holiday in his budget next month.
The clock is ticking on the Government’s Stamp Duty holiday. Last summer Rishi Sunak, the Chancellor of the Exchequer, announced that no Stamp Duty would be charged on the first £500,000 of any purchase made before the end of March 2021.
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