House Prices Rise Fastest in 2 Years
Published / Last Updated on 04/12/2024
According to the Nationwide Property Index, UK property prices have climbed at their fastest rate in 2 years after figure for November were published on Monday.
- 3.7% pa yearly property price rises.
- Average UK house in Nationwide’s index £268,144 just below the all-time high £273, 51 in August 2022 (after the pandemic).
- 1.2% rise in November alone.
Comment - Why the rush despite mortgage rates remaining higher?
The Autumn Budget confirmed stamp duty concessions will end in April 2025.
- First time buyers (FTB) nil rate exemption will fall to £300,000 from £425,000.
- Nil rate band stamp duty for all will back back to £125,000 from £250,000.
Many suspect Labour may come to regret although we do not. FTB will still have the £300,000 nil rate concession.