February saw the UK average house price rise for the sixth consecutive month, increasing by 0.4% to £270,493, a 3.9% year-on-year growth. The highest annual increase was in Northern Ireland, at 7.2%. Contrastingly, the North West of England experienced a 3% increase, whereas the South East saw only a 1% rise. Factors influencing these trends include impending stamp duty changes and fluctuating economic conditions, including inflation and interest rates, which may impact buyer behavior and housing market dynamics in the near future.
Property values rose by 0.4% this month, taking the average house price to £270,493, with prices increasing by 3.9% annually, as reported by Nationwide.
The sharp rise in tax bills expected due to the lowering of stamp duty thresholds has seen many buyers forge ahead with purchases, potentially inflating house prices.
Collection
[
|
...
]