Fri, 07 Feb 2025

Fri, 07 Feb 2025 House prices hit new high ahead of stamp duty change

The UK's biggest mortgage lender says there remains "strong demand" for new loans.

* UK house prices have hit another record high, with an average property price reaching £299,138.
* The annual growth in prices slowed to 3.0%, but Halifax says the market is showing "noteworthy" resilience.
* Property values recovered in January after a slight dip in December.
* London remains the most expensive place to buy a house, with an average property costing £548,288.
* Northern Ireland saw the strongest annual price rise of 5.9%, with properties averaging £205,473.
* England's North East replaced the North West as the region with the strongest annual price growth, with values increasing by 5.2% to £178,696.
* Scotland saw a lower rise in house prices overall, up 2.4%, with an average property costing £210,690.
* First-time buyers may be trying to complete deals before an increase in stamp duty in April.
* Halifax's head of mortgages says the market is showing "noteworthy" resilience despite geopolitical uncertainties and waning consumer confidence.
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