Stamp duty changes this spring could generate volatility, triggering a jump in house sales in early 2025, followed by a weaker period, Nationwide Building Society has predicted. House prices increased by 4.7% annually in December, accelerating from 3.7% in November, the society reported.
Property values increased by 0.7% month-on-month in December, taking the average house price to £269,426.
Robert Gardner, Nationwide's chief economist, said: "UK house prices ended 2024 on a strong footing, up 4.7% compared with December 2023, though prices were still just below the all-time high recorded in summer 2022."
The all-time high UK average house price, recorded in August 2022, was £273,751.
This story is from the January 03, 2025 edition of The Herald.
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This story is from the January 03, 2025 edition of The Herald.
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