House prices up by 8.6% in the UK in the fist quarter of 2021, compared with the same quarter of 2020.

House prices up by 8.6% in the UK in the fist quarter of 2021, compared with the same quarter of 2020.

The average house cost pushed past £250,000 in February 2021.
The North West saw greatest yearly lift at 11.9%, said the ONS.
Transactions multiplied to in excess of 190,000 a month ago contrasted with a year prior.
Purchasers are as yet being driven by a craving for space and the the stamp duty holiday.

As purchasers competition to exploit the stamp obligation occasion, the normal property cost has prodded over the £250,000 mark, implying that values expanded £20,000 in a year. This exceeds the greatest £15,000 stamp obligation saving, which is also accessible on homes costing £500,000 or more.

The North West of England was region with the highest annual growth in normal house costs at 11.9 percent. The average house there now costs £184,000.

London saw the lowest growth at 4.6 percent, however its house costs stay the UK’s most elevated at an average of £496,000.