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Halifax House Price Index March 2021

House price growth accelerated in March following the extension of the stamp duty holiday in the Budget.

House prices picked up on a month-on-month basis for the first time since November, with prices up by 1.1% in March compared to February. On an annual basis, prices rose by a strong 6.5% in March, with the average house price coming in at a record £254,606 – some £15,000 higher than a year earlier.

Source: Halifax HPI, IHS Market

Provisional data from HMRC shows that the number of house transactions was 48.3% higher in February compared to a year earlier at 122,840 transactions (non-seasonally adjusted).

Government support, higher levels of savings among households, and a shift in work-life conditions has boosted momentum in the housing market over the past year.

Momentum is expected to continue in the short term, with indicators from the latest RICS Residential Market Survey showing that buyer enquiries, house sales and new instructions improved in March compared to February.

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