UK house prices rose £13,000 over the past year

House prices in the UK have increased by £13,000 over the past year, according to the latest House Price Index. Changes to stamp duty, which will start on April 1, have not slowed this growth. The average property price in the UK is now £269,000. From April, buyers will pay a two percent stamp duty on homes costing between £125,000 and £250,000. First-time buyers will see their threshold drop from £425,000 back to £300,000. Though these changes are concerning for some, experts say many options remain for buyers. In certain areas like South Oxfordshire and Harborough, house prices have risen significantly. South Oxfordshire saw a 9 percent increase this year, raising the average property value to £484,663. Meanwhile, London has mixed reports, with some boroughs seeing declines while others, like Richmond, experienced gains. Many homeowners are optimistic about the upward trend in property values. Analysts believe the housing market will remain strong, despite rising interest rates and higher stamp duty fees. This optimism is especially true for first-time buyers who still have plenty of choices in the market.