Home Lifestyle House prices at record levels for second month in a row

House prices at record levels for second month in a row

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Russell Galley, Managing Director, Halifax explains that the current demand for homes in the UK means that “In cash terms, almost £20,000 has been added to the value of the average home since the market had essentially come to a standstill in April 2020.”

Russell adds: “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.

“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.”

Jason Tebb, Chief Executive Officer of property search website OnTheMarket.com agrees: “The figures from Halifax this morning confirm what we’re hearing on the ground, which is although many people thought that March would see the peak of buyer demand and that the market would wind down from there, with the extension of stamp duty relief until June, those who thought they had missed out started their search in earnest in April.

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