UK house prices reach new high but growth is slowing, says Halifax

Prices ended 2020 up 6% on the previous year on pent-up demand and stamp duty holiday

The average price of a house in the UK reached a record high of £253,374 in December but growth is slowing and prices may fall over the year, according to Britain’s biggest mortgage lender.

Halifax said UK house prices ended 2020 on average 6% higher than in 2019 as pent-up demand after the first national lockdown and the government’s stamp duty holiday spurred a homebuying boom.

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