UK house prices continue to rise in January ahead of new stap dutyStaff writer ▼ |
Housing in Great Britain Land Registry reveals:
UK house prices continued to surge in January as buy-to-let and second home purchasers rushed in ahead of the government's new stamp duty charges.
The number of house purchases, however, decreased over the past year as demand continued to outpace the supply of homes.
An average of 78,652 sales per month were made between August and November in 2015, compared to 81,656 sales per month the same period a year earlier.
The report follows data from the British Bankers Association on Wednesday which showed mortgage approvals for house purchases rose to a 23-month high of 47,509 in January compared to December's seven-month low of 43,660. ■
What to read next