Economics
U.K. House Prices Gain Most Since 2016 as Tax Cut Fuels Boom
- Halifax says property prices jump for a second month in August
- Demand fueled stimulus boost but momentum is expected to fade
Pedestrians view displays in an estate agent's window in Guildford, U.K.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
U.K. house prices rose by the most in four years in August as buyers rushed to take advantage of a tax cut that is helping to bolster a post-lockdown spurt in property transactions.
Average house prices rose 1.6% from July to a record average of 245,747 pounds ($325,000), mortgage lender Halifax said Monday. From a year earlier, prices gained 5.2%, the strongest since 2016.