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Data released by mortgage provider Halifax have revealed that UK property prices reached a record high last month, the largest monthly increase since 2016, and it is suggested that the increase has been driven by pent-up demand post-lockdown and the stamp duty holiday.
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The reopening of the housing market and government support in the form of the Stamp Duty holiday has brought a short-term rise in house prices and the demand for property. But as the UK enters a recession experts are predicting that the boom will not last, and house prices could fall.