The average house price increased by 5.4% this year, according to latest ONS figures.
October 2020 saw UK house price growth at its highest level since October 2016, with Scotland and Wales surpassing the national average.
Legal & General Mortgage Club director Kevin Roberts said: “The stamp duty holiday continues to play an active role in driving the housing sector into growth after the restrictions from April and May.
“However, the market is experiencing pent-up demand which is causing delays in the homebuying journey. On average, our research showed that it could take buyers up to 17 weeks to complete their transaction. It’s important that prospective buyers speak to an adviser to help them navigate the changes and access the most up-to-date guidance and support.”
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