Biggest leap in 20 years for UK house prices

UK house prices rose by an average of nearly £8,000 last month, the biggest jump in more than two decades. The average price is now £348,804, according to Rightmove, which is a 9.5% increase on prices this time a year ago. Since the pandemic hit, asking prices have risen by nearly £40,000, compared with £9,000 in the previous two years. James Forrester, managing director of estate agent Barrows and Forrester, said: “We continue to see high numbers of buyers fighting it out for a very limited level of stock, the result of which is an inevitable boost to property values. However, we are also seeing sellers pre-empt this high demand and enter the market at a far higher price point to take advantage of this buyer desperation.” The Times (£) The Financial Times (£