Homebuyers forked out almost £260.5 billion on residential property, with just over a million homes sold across the UK, in 2021, at an average price of £259,576.
This was revealed in research conducted by property platform Boomin, which also reported a 37% increase in the total value of property purchases on the previous year.
The increase, Boomin said, was driven by a pandemic house price boom and a 25% annual increase in the number of homes sold.
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