Summary
UK house price growth slowed in August, reaching the same pace as in June 2023. The average home price increased by 2.1% over the past year, down from 2.4% in July, according to Nationwide. Discussions about changes to property taxes are ongoing as the government looks to stimulate the housing market.
Key Facts
- UK house prices grew by 2.1% in the year up to August 2023.
- This growth rate is the same as in June 2023 and slower than the 2.4% growth in July.
- The average UK home now costs £271,079.
- The UK government is considering changes to property taxes to boost the housing market.
- Options include a National Insurance tax for landlords and abolishing stamp duty.
- Housing remains difficult to afford due to high prices compared to incomes and living costs.
