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Fastest annual increase since 2004: House prices climb by 13.2 per cent
House prices rose by 13.2 per cent over the year to June, the fastest annual increase since 2004, according to official figures.
Across the UK, the average house price in June was a record £266,000.
It increased from £255,000 in May and beat the former £256,000 record which was set in March, the Office for National Statistics (ONS) said.
ONS head of prices Mike Hardie said: “In June, UK house prices saw their highest annual growth since 2004.
“This figure, however, was boosted by large monthly growth, with a rush to complete purchases before changes to the stamp duty holiday came into effect at the end of June.
“The average price of UK houses now stands at a record £266,000, which is £31,000 higher than this time last year.”