UK house prices increased fastest last five years – Virtue Realtor

House prices are rising at their fastest pace in five years after the Treasury’s extended stamp duty holiday prompted a fresh surge in buying last month, Britain’s biggest mortgage lender has said.

The monthly snapshot of the property market from Halifax showed a 1.4% jump in the cost of a home in April – taking the average selling price to a record high of just over £258,000.

The Halifax said almost £20,000 had been added to the average house price since the market came to a standstill during the first coronavirus lockdown in April 2020.

Although the stamp duty relief will be phased out in two stages in June and September, the bank said it expected demand for property to remain strong in the next few months.

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