UK house prices hit a new record high in June as buyers scrambled to complete purchases prior to the winding down of a stamp duty holiday, official figures have confirmed.
The average price hit £266,000, up by £31,000 or 13.2% on the same month last year - the highest percentage rise since November 2004, according the Office for National Statistics . It confirmed similar data for June reported by lender Nationwide - which has also more recently found that the marketThe ONS said buyers rushed to complete purchases before the winding down of the stamp duty holidayA tax break announced last summer meant buyers in England and Northern Ireland would not have to pay any stamp duty on properties worth up to £500,000.
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