House prices hit all time high after mini boom and stamp duty holiday

House prices hit all time high after mini boom and stamp duty holiday
UK house prices reached a new all-time high in July as the property market reopened, following months of coronavirus lockdown.
The latest Halifax House Price Index showed the average price of a home was £241,604 last month, 1.7% higher than June's £237,834.
Overall average house prices are 3.8% higher than July 2019.
Russell Galley, the Halifax managing director, said “pent-up demand and a lack of available houses had combined to push up prices”.
The UK Chancellor Rishi Sunak recently introduced a temporary suspension of stamp duty on property sales up to £500,000 in England and Northern Ireland, which agents say have stimulated the market.
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