Previously many Estate Agents had indicated that in their view house price growth would remain flat this year, as the economy floundered after the successive Covid lockdowns and the end of furlough.
With great news for house sellers, they are now reconsidering their predictions! Savills is among one of the major Estate Agents predicting growths of 4% this year, following a very strong 2020 and house prices rose 7.3%. Similarly, Knight Frank have increased it’s UK house price forecast from 0% growth in 2021 up to 5% in the wake of the Government support measures. Interestingly for Scottish buyers, the research has found that the markets further from London are likely to see the strongest house price growth because they are more affordable.
As always, if you contact our conveyancing team, we will be happy to give you any advice with regard to buying and selling in the present market.