House prices have been on the up of late, with reports last month that they had shot up 9.5% in the past year as people seek bigger properties and gardens. According to Halifax, the average house now costs £261,743 following an increase of more than £22,000 over the last 12 months. It's been suggested this may have been impacted by the pandemic, with a shift in buyer practices after people found themselves spending more time at home. However, the stamp duty holiday has also been cited as a factor. But while prices might be booming now, could we be in for a price crash in the near future – and is now a good time to be buying a house? Is a UK house price crash coming? While some experts have raised concerns that a price crash could occur if demand for properties were to decrease at the same time as an increase in supply – it's also been suggested that's not likely to occur here in the coming months. 'We are seeing a property bubble in the UK – where there is an increase in house prices fuelled by demand,' Ross Counsell, chartered surveyor and director at Good Move… Read full this story
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