Property values hit record high of £238,831
UK house prices rose at the fastest pace in more than 15 years in April, according to Nationwide research.
Compared to the previous month, average house prices rose by 2.1%, the largest increase since early 2004.
Year-on-year house price growth rose from 5.7% in March to 7.1% in April as property prices hit a record high of £238,831.
According to Nationwide, UK house prices have increased by £15,916 in the past year.
Robert Gardner, chief economist at Nationwide, said: “Just as expectations for the stamp duty holiday to end led to slower house price growth in March, the extension of the stamp duty holiday in the Budget has “This prompted a reacceleration of house prices in April.”
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“However, our research shows that while the stamp duty holiday has an impact on the timing of home transactions, for most people it is not a significant motivator to move in the first place.”
Mr Gardner added: “Housing market activity has improved as a result of the stamp duty extension and additional support for the labor market included in the Budget, particularly given that borrowing costs remain low and many people remain motivated. is likely to remain quite active over the next six months.” As a result of changing housing preferences in response to the pandemic, I decided to move. ”
