Stamp duty cuts could increase property values by £34k

Average house prices across the UK could increase by a further £34,000 over the next 12 months, according to market analysis by specialist property lending experts Octane Capital. The experts believe the price hike will be spurred by cuts to stamp duty announced by Chancellor Kwasi Kwarteng. The research looked at the average monthly rate of house price growth following the initial stamp duty holiday in 2020/2021 and what a similar rate of growth could mean for the market over the next 12 months. The figures revealed that during the stamp duty holiday, the average house price across England climbed at a rate of 0.9% each month. House prices increased from £253,226 when the holiday began, to £287,370 when the holiday came to an end in September 2021.

Daily Express (03/10/2022)