House prices up as stamp duty relief goes down

The Nationwide released their house price index for August 2021 this morning

What they said

Average UK house prices £248,857

Annual house price inflation 11.0%

House prices up 2.1% in August the second-largest gain in 15 years

Twindig take

The lack of supply of homes for sale keeps has kept house prices rising as the stamp duty holiday relief starts to fall. House prices are now £27,921 higher than they were before the start of the Stamp Duty Holiday, although the average stamp duty holiday saving is just £2,477. 

The strong house price performance during August could, however, be one last hurrah before the stamp duty holiday draws to a close at the end of September, after which we may see house prices and housing market activity soften. 

However, house prices have been stronger than we ever imagined in the eye of the pandemic and it will be a brave person who bets against them as we start to leave the storm of the pandemic behind.