Home Lead Story UK house prices increase at fastest rate since 2004

UK house prices increase at fastest rate since 2004

by LLP Editor
30th Apr 21 12:23 pm

House prices in April rose at the fastest rate since 2004, according to new figures.

The UK also faces a potential sales “super-boom”, with buyers rushing to take advantage of the extension of the government’s stamp duty holiday.

The annual rate of growth was up on the 5.7% recorded in March, and just below the peak rate recorded during the coronavirus pandemic of 7.3% in December.

“Just as expectations of the end of the stamp duty holiday led to a slowdown in house price growth in March, so the extension of the stamp duty holiday in the budget prompted a re-acceleration in April,” said Robert Gardner, the chief economist at Nationwide.

“The combination of high demand and low supply could create the conditions for a housing super-boom the likes of which we haven’t seen since the early 2000s,” said Iain McKenzie, the chief executive of the Guild of Property Professionals.

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