There’s some good news for homeowners this morning: asking prices for houses jumped to a new record high of £308,151 on average in May, according to property website Rightmove,
Thisismoney reports that some towns have seen ‘eye-watering’ increases while across England and Wales, the average price tag on a property coming to market has risen by £1,118 on last month.
The price increase comes despite a three percentage point stamp duty hike for buy-to-let investors, imposed from April 1, which it was thought would take some heat out of the market. But the rush from homebuyers in March to beat the extra stamp duty on buy-to-let properties and second homes has led to a property ‘drought’.
Rightmove said the price of an ‘entry level’ home with two bedrooms or fewer leapt by £11,298 over the last month alone to reach £194,224 on average. Homes in this bracket are typically sought after by both first-time buyers and buy-to-let investors.
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