How the Housing Market will Fare in 2021
Speculation upon speculation – how the housing market will fare this year is anyone’s guess.
Sure, there are plenty of predictions that come the end of the Stamp Duty Holiday and COVID-19 furlough scheme, house sales with take a dive. But whether or not that will mean house prices rise or plummet depends on who you’re listening to.
Experts can’t agree over property values A
Both the Halifax and think-tank, the Centre for Economics and Business Research (CEBR) predict house prices could fall by as much as 5% overall next year. Zoopla is more cautious, quoting a 1% drop, while upmarket estate agent Savills reckons prices will merely stay the same.
According to the latest figures from the government’s Land Registry statistics, property values grew 7.6% in November compared to the same time last year. This brought the cost of the average property in England and Wales to £249,633.
The price rise isn’t surprising when you consider figures from HM Revenue and Customs (HMRC) shows 115,190 were sold in the month of November alone. That in itself was an increase of 19% compared to November 2018. It was said to be the cumulation of pent-up demand and determination to take advantage of the Stamp Duty Holiday.
According to the latest figures from the government’s Land Registry statistics, property values grew 7.6% in November compared to the same time last year.
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