Halifax releases house price data

Halifax has reported that house prices are up 8.2% in the last 12 months, increasing at the fastest pace since 2016, with the average selling price at a record high of just over £258,000. On a monthly basis, prices increased by 1.4% or nearly £3,600 between March and April. Russell Galley, the lender’s managing director commented: “The stamp duty holiday continues to add impetus to an extremely active market, magnifying the current shortage of available homes as buyers aim to take advantage of the government scheme”. He continued: “The influence of the stamp duty holiday will fade gradually over the coming months as it’s tapered out but low stock levels, low interest rates and continued demand is likely to continue to underpin prices in the market”.

BBC News (10/05/2021) City AM (10/05/2021) The Times (10/05/2021)