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Well, the forecasters got it badly wrong last year, but who would blame them for that? This year, they have more of an idea of what the market is confronted with, but these are uncertain times. Nevertheless, a few industry professionals have stuck their neck out...
30/12/2020
Property market round-up - December 2020House prices finished the year up 7.3% according to Nationwide, with their quarterly regional report showing the South East high in the rankings for the first time in years. Zoopla reports that demand in 2020 has been 40% higher than in 2019.
1/12/2020
Property market round-up - November 2020Property values continue to surge, now up to 6.5% year-on-year according to Nationwide Building Society. It is still the North, North West and the Midlands showing the greatest gains, with Nottingham and Manchester leading the way.
27/11/2020
What will drive property prices in 2021?Covid dominated all aspects of our lives in 2020, including the UK's property market. The response to it will shape the industry throughout 2021 and beyond.
2/11/2020
Property market round-up - October 2020Nationwide's figures for the month show property values up 5.8% over the last year. As usual, cities in the north lead the way.
19/10/2020
UK house prices hit record high - HalifaxAverage selling prices for UK properties hit a record high in September according to mortgage lender Halifax, with property portal Rightmove reporting asking prices still on the rise.
Six months ago, some economists were forecasting a difficult housing market with a collapse in demand and price falls in the double digits. In any previous recession they might have been right. Not this time, with activity strong and prices 5% higher than a year ago.
Within days of Savills' June house price forecast, Chancellor Rishi Sunak trumped it with the announcement of a Stamp Duty holiday. Add to that the unexpected post-lockdown mini-boom and an update was needed. Here it is and, once again, it surprises on the upside.
Housing prices recover from a recent dip to an all time high in August with annual house price growth now standing at 3.7%.
29/8/2020
Hometrack UK Cities Index - July 2020According to the Zoopla/Hometrack Index, property values in the UK's major cities do not appear to be suffering any ill effects from the pandemic, with 16 of the largest 20 recording gains of 2% or more over the last year.
House price growth rebounded in July as activity bounces back, with prices up 1.7% month-on-month.
30/7/2020
Hometrack UK Cities Index - June 2020The really useful index from Zoopla/Hometrack shows a modest increase in city house prices. Once again, it is Northern England leading the way.
National average house prices ground to a halt in June with prices down 0.1% for the first time since 2012. However, there are big variations, with the Northwest up 4.8% year-on-year.
26/6/2020
Hometrack Cities Index May 2020Defying the national averages, the UK's major cities continue to see steady house price growth, particularly in Northern England and the Midlands.
We've been looking for updated forecasts for a while. Kudos to Savills for sticking their head above the parapet. They expect an initial dip in 2020 followed by strong gains from 2021 onwards.
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3/1/2021