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Latest ONS data shows UK house prices at 17-year high

18 August 2021

UK average house prices are showing the strongest annual growth rate in 17 years, with a 13.2 per cent increase in the year to June 2021, according to the ONS UK House Price Index released today.  

Lee Pickett, a housing sector specialist and real estate partner at global legal business, DWF, said: "Today's data reflects the intensely busy period the housing sector experienced in early 2021, largely driven by the stamp duty holiday, put in place to stimulate the market and the changing needs of UK homebuyers since the pandemic. 

"This is the highest level of growth since 2004 and it is reflected in the price of an average home in the UK, which is now £266,000, overtaking the previous high in March 2021 of £256,000.  

"The end of June saw the end of temporary stamp duty savings for many buyers so we will have to wait for a couple of months to see if the current growth continues. Any slowdown in the growth of prices would be largely welcomed by first time buyers, who are having to find increasingly large deposits to even make it onto the property ladder."

View the full ONS UK House Price Index data here >

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