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UK house price inflation has hit its highest level since 2004, in the last scramble to take advantage of the full stamp duty holiday.
Mortgage lender Nationwide reports this morning that annual house price growth hit 13.4% this month, the highest level since November 2004.
On a monthly basis, prices rose by 0.7% during June, lifting the average price to £245,432 on Nationwide’s index.
That’s a slowdown on May’s 1.7% surge, but still means annual price inflation is the highest in over 16 years.
That partly reflects the weakness of the market a year ago, during the first wave of Covid-19. But it also reflects the rush to buy as the end of the stamp duty holiday nears (the threshold halves to £250,000 on 1 July in England and Northern Ireland, while in…
