UK house prices dipped by 0.5% in June, according to Halifax. A looming stamp-duty cliff-edge at the end of the month has cooled demand. Stamp-duty relief is now being tapered until it ends on 30 September. Still, Halifax says prices are up by 8.8% on the year. Nationwide reported last month that its house-price index has surged by 13.4% in a year, the biggest annual leap since November 2004.
The housing market has soared on a cocktail of low interest rates, government furlough help and the stamp-duty holiday. Yet property is now heading into uncertain territory, says Geoff Meen for theconversation.com.
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