Compared to this time last year, the value of the homes being sold in the UK has practically doubled in the first 15 weeks. During this period, around £149 billion pounds worth of property transactions have taken place, with industry sources predicting this to climb even higher for the rest of 2021.*
Annual house price growth was at 4% in March, nearly double the 2.1% recorded for the same period last year. The greatest increases have been seen in the northern regions, in particular: Manchester and Liverpool at 6.5% and 6.3%, closely followed by Leeds, Nottingham and Sheffield with a 5% increase. However, in London – which is the region with the highest average house price – annual growth was only 2%.
With the search for space remaining a top priority, three and four-bedroom homes are in high demand, with many being sold over their asking price. This means that homeowners selling a family home have been in a prime position to receive offers in record time, often leading to a shortage of choice for those still looking to buy.
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