Nationwide's figures for the month show property values up 5.8% over the last year. As usual, cities in the north lead the way.
Add that to the gains for the same period a year ago and total returns for the two years are over 10%. For someone buying on a two thirds mortgage, that's 30% on capital invested. Who said buy to let is dead?
The big picture - house prices up 5.8% year-on-year
From Nationwide Building Society -
* not seasonally adjusted
Data suggests that the economic recovery has lost momentum in recent months with economic growth slowing sharply to 2.1% in August, down from 6.4% in July, despite a strong boost to the hospitality sector from the Eat Out to Help Out scheme, which has since expired.
Drilling down to the regions
The Zoopla/Hometrack UK Cities index is a month behind Nationwide's report and supports their September figures, with the UK's largest cities recording an average annual increase of 2.9% year-on-year.
The top performers -
Stamp duty changes always distort market volumes to some degree and the scale will depend upon how much buyer activity is driven by the change. We believe that the ‘once in a lifetime re-evaluation of housing’, in response to COVID, has been a greater underlying driver of demand with stamp duty savings more of an ‘added bonus’ from completing a sale before next April.