House prices ‘ising steadily’ again after stamp duty shock

HOUSE price inflation accelerated in June following stamp duty changes this year, while growth in rental costs eased.

- By Henry Saker-Clark

The average UK house price increased by 3.7% to £269,000 in the year to June.

Data from the Office for National Statistics revealed an uptick in price growth following a 2.7% rise in the 12 months to May.

It comes amid a backdrop of cooling interest rates, which dropped again to 4% earlier this month.

The acceleration comes after price inflation was affected by changes in stamp duty, with the threshold at which movers pay the tax decreasing from £250,000 to £125,000 at the end of March.