Economics

U.K. House Prices Surge in August Despite Ending of Tax Cut

Gain of 2.1% was second largest in 15 years, Nationwide says
Underlying demand, shortage of homes underpinning market

Properties on a housing development in Loughborough, U.K.
Photographer: Darren Staples/Bloomberg

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By Andrew Atkinson and David Goodman

September 1, 2021 at 6:17 AM UTC

Updated on

September 1, 2021 at 8:17 AM UTC

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U.K. house prices rebounded strongly in August, suggesting underlying demand and a shortage of homes for sale are underpinning the market as a tax break on purchases is withdrawn.