Dramatic surge in UK's housing market caused by stamp duty increase - but central London may be at tipping point
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Housing market activity in the UK surged during the first quarter of 2016, partly due to upcoming Buy-to-Let stamp duty surcharges.
The average house price in the UK rose by 5.3% (5% inflation-adjusted) to £198,564 (US$ 286,806) during the year to Q1 2016, according to Nationwide. This followed y-o-y price increases of 4.26% and 3.67% in Q4 and Q3 2015, respectively.
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