In the deepest recession for decades? 🤔
The latest statistics show the number of sales per week is currently 65 per cent higher than it was this time last year, The Times reports.
In February, average property prices were £260,000. They now stand at £290,000, according to house price data firm Twenty Ci. Their stats show the rise has particularly affected the north of England and Wales, with 15% growth in the median asking price.Central London remains the most expensive place to buy a house in the UK but it is also the only area where prices are falling – down 1.71% to £575,000.
‘The figures we see here are probably this plus sales which were delayed as result of the lockdown and those that are being brought forward from next year. ‘The stamp duty cut is propping up the market this summer but it won’t be sufficient to negate the effect of the end of the furlough scheme and mortgage payment deferrals later this year which is why we still believe that property prices will fall towards the end of the year and into next year.’
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