Hope for some, heartbreak for others as house prices go through the roof
With pent-up demand and the stamp duty holiday sending the cost of homes soaring, we look at the groups and sectors that stand to gain or lose out
UK house prices have hit a record high since the lifting of lockdown, after the fastest monthly growth in property values in August since 2004, fuelled by the release of pent-up demand and the government’s stamp duty cut.
Despite Britain plunging into the deepest recession in modern history in the second quarter, estate agents report a surge in interest from those with the financial security to move, and from those whose priorities have been changed by Covid-19. There are, however, winners and losers in this rapidly moving market, as Covid-19 creates a period of boom and bust.