August 2021 Housing Market Update.

The first half of the year has proved the busiest ever recorded in the housing market with over 880,000 properties changing hands. The Bank of England reported that the value of mortgage lending hit a record £43.8 billion. 

With the roll out of the vaccine and the removal of COVID 19 restrictions, consumer confidence is on an upward trajectory.  Mortgage rates remain close to their all-time low with more widely available high loan to value mortgages providing support to first time buyers and those looking to upsize.   Zoopla reports, lending to first time buyers has risen 25% year on year.   The latest monthly index produced by Nationwide reports that the average price of a property in the UK rose by 10.5% in the year to July. Price Growth in the housing market is currently strongest in the sought-after areas of the south west and North west…. So the traditional summer lull of previous years looks unlikely.  Our buyer enquiries remain steady, our Rightmove data for just last week listed Home Truths Sales and Lettings as first for sales agreed and first for property views, we also continue our success as the BEST SELLING Agent, based on stock for August. So If you are thinking of moving, We would love to hear from you. Give us a call on 01257 451 673 to book a valuation today.

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