Average flat price rises above £250,000
Published by Max Salsbury for 24dash.com in Housing
'North-South divide' over stamp duty payments
The average price for a flat in England and Wales rose above £250,000 in quarter 2, new statistics have revealed.
The Land Registry's quarterly data shows that the price of all property across England and Wales grew by 1.3%, to reach an average of £242,415.
Average prices are edging closer to the threshold at £250,000 where stamp duty leaps from 1% to 3% and a tax increase from £2,500 to £7,500.
But for flats, which represent 18% of the total market, the average price has already breached the threshold to stand at £250,101.
Transactions in England and Wales also saw a rise in Q2, up 26.6% since Q1.