House price rise revealed in Halifax index

The latest Halifax house price index reveals that prices increased 9.5% in May to reach a new record high of £261,743 on average - their fastest pace since June 2014. Russell Galley, managing director at the firm, commented: “Heading into the traditionally busy summer period, market activity continues to be boosted by the Government’s stamp duty holiday, with prospective buyers racing to complete purchases in time to benefit from the maximum tax break ahead of June’s deadline." He continued: “The current strength in house prices also points to a deeper and long-lasting change as buyer preferences shift in anticipation of new, post-pandemic lifestyles.” All UK nations and regions except the north east of England witnessed an acceleration in annual house price inflation in May. Growth was strongest in Wales, with house prices soaring by 11.9%, Halifax said.

BBC News (07/06/2021) City AM (07/06/2021) Evening Standard (07/06/2021) The Guardian (07/06/2021)