House prices up 1.6% in first rise since lockdown as stamp duty holiday begins

House prices rise for first time in four months as stamp duty holiday takes force

The number of new homes going onto the market has remained low though, meaning there's stiffer competition among buyers which has also contributed to rising prices.

But he warned: "However, looking further ahead, there is still a great deal of uncertainty around the lasting impact of the pandemic."could force prices to drop again "in the medium term". He said: "We're living in a time where many people's finances have been impacted and household finances are stretched, so any growth we're seeing now could well be short-lived.

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