Busy Year for UK Property – 26/05/2021

Busy year expected for the property market as new data reveals that more home sales are expected in 2021 than in 2007 when the market last peaked.

Zoopla has revealed that sales transactions are expected to reach 1.5million in December – up 45% compared to figures in previous years. As well as this increase, the value of homes sold in 2021 is expected to reach around £460bn, up 68% compared to 2019. The annual house price growth has near-enough doubled in the past year, with house growth reaching 4.1% in April 2021 from 2.3% in April 2020. The total number of homes available to buy is down by 20.8% as we approach the middle of May.

Nationwide Building Society have also said that house prices would continue to rise beyond the Stamp Duty Holiday though they added a warning of higher costs making it harder for first-time buyers to get on the property ladder.

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