U.K. House Prices Seen Growing as Much as 3% for Rest of 2020
- Any price declines are more likely early in 2021, Zoopla says
- London has benefited most from a temporary sales-tax break
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House prices in the U.K. are set to grow by as much as 3% for the rest of this year, driven by a sales-tax break and resurgent demand following the coronavirus lockdown.
Prices grew by 2.7% in June from a year earlier, the fastest pace in nearly two years, according to a report from property portal Zoopla Ltd. The staggered opening of housing markets across the U.K. and the boost from the temporary tax relief will help buoy prices in the coming months, and any declines are more likely in the first half of 2021. Zoopla previously forecast price growth to cool toward the end of this year.