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U.K. Home Prices Rise as Landlord Surge Leaves Property Famine

By Tony Seruga

Tax changes introduced last month have skewed the market
First-time buyer demand increases amid drought in property

U.K. house prices rebounded in May after an investor rush to beat a new tax introduced last month left behind a shortage of homes for sale, according to Rightmove.

Asking prices increased 0.4 percent to an average 308,151 pounds ($442,000), the property website operator said on Monday. Prices for properties traditionally sought by first-time buyers surged 6.2 percent…

U.K. Home Prices Rise as Landlord Surge Leaves Property Famine

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