Politics

Is Now A Good Time To Buy A House?

After 18 months in a pandemic, and with property prices surging, you might be wondering if now is a good time to buy a house.

There’s been a rush for everyone to complete their purchases before the stamp duty holiday – meaning no tax on the first £500,000 of properties – winds down. From June 30, the threshold dropped to £250,000 until September 30. And stamp duty thresholds will return to normal levels from October 1.

Annual house price growth accelerated to 13.4% in June, marking the strongest growth since November 2004, according to the Nationwide Building Society. Across the UK, the average house price in June was £245,432, and prices were up by 0.7% month-on-month, following a 1.7% increase in May.

Zoopla data also shows house prices have increased 4.7% over the past year, equating to an average uplift of £10,000 per property in the UK.

So what does all this mean if you’re looking to buy a property in the second half of 2021? We asked property and money experts.




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