Zoopla reveals just how much huse prices have risen
Annual house price growth was up 5.4% in June, more than double the year-on-year growth recorded at the same time last year, according to Zoopla’s latest data. While Northern Ireland and Wales registered the UK’s highest increases with 8.6% and 8.4% respectively, the North West and Yorkshire topped England’s regional table.
House prices in the North West have shot up by 7.3% over the past year, while Yorkshire and the Humber recorded a 6.8% rise. Zoopla’s city index shows that Liverpool had the greatest growth in prices between June 2020 and June 2021 with 8.9%, followed by Belfast 7.7% and Manchester 7.4%. Sheffield was fourth in the table with a 7% gain and Leeds is in sixth with 6.1%.
1.8m homes ‘pushed into higher stamp duty brackets in past year’ 29/06/2021, 12:03 am
Around 1.8 million homes have been pushed into higher stamp duty brackets over the past year, Zoopla estimates (Yui Mok/PA)
Around 1.8 million homes have been pushed into higher stamp duty brackets over the past year, a property website estimates.
On average, UK house prices have increased by £10,246 in the past 12 months, Zoopla said.
Intense market activity has accelerated house price growth, pushing 1.8 million properties into a higher stamp duty bracket, the website added.
The findings were released ahead of the stamp duty holiday being tapered from Thursday.
The “nil rate” stamp duty band, which was temporarily increased to £500,000 in 2020, will halve to £250,000 from July 1. Then, from October 1, it will revert to its normal threshold of £125,000. Stamp duty applies in England and Northern Ireland.
An off-market sale is one where the property is not marketed publicly - with the sale arranged by a buying agent and clients looking to purchase without participating in a bidding frenzy.
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