Property prices stall as stamp duty rises

By Vicky Shaw

"Nil rate" bands have shrunk from yesterday, meaning higher costs for some buyers where the duty applies in England and Northern Ireland.
Nationwide Building Society recorded a 0% month-on-month average in March after a 0.4% rise February.
It said the annual rate of price growth was stable in March at 3.9%, which was unchanged from February. The average UK house price in March was £271,316.
Robert Gardner, Nationwide's chief economist, said: "These trends are unsurprising, given the end of the stamp duty holiday at the end of March."
Uncertainties
He added: "The market is likely to remain a little soft in the coming months since activity will have been brought forward to avoid the additional tax obligations a pattern typically observed in the wake of the end of stamp duty holiday...

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Daily Express (Digital) - 1 Issue, April 02, 2025

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