UK house prices surge despite tax break end

Ongoing rise in house prices driven by demand for more space amid greater home working and lack of supply in property market, experts say

The growth in UK house prices shows no sign of slowing down even with the partial removal of a stamp duty holiday in England.

The average UK house price reached a fresh record high in August while annual inflation cooled to a five-month low, after the partial end of the stamp duty holiday in England and the North.

Halifax, one of the UK’s biggest mortgage lenders, said the average cost of a property increased by 0.7%, or £1,789, to £262,954 (€307,000), topping the previous peak of £261,642 recorded in May.