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Deals agreed between buyers and sellers during March and April will result in monthly price increases of 2.9 percent in June and 3.7 percent in July. This is according to data from the Reallymoving House Price Forecast April 2021.
Rob Houghton, CEO of reallymoving, said: “Looking ahead to the summer we’re continuing to see an exceptionally strong performance from the housing market across the UK, with buyer demand showing no signs of abating.
“A shift in the priorities of homebuyers has resulted in strong demand from equity-rich homebuyers higher up the ladder who, freed from their daily commute, are able to look further afield for a home with the kind of space and location they’ve long dreamed of.
“Backed by lockdown savings and encouraged by rock bottom interest rates, many people are determined to secure a home that meets their new needs, despite fierce competition – and it’s these movers who are driving sharp increases in average prices.
“Despite this, First Time Buyers continue to maintain a market share of around 55 percent – which could rise further now the Government-backed 95 percent loans are available.”
“Right now some buyers are able to grab a relative city bargain compared to the heady price growth outside cities, but these early signs of demand could be the start of city prices rising again, so for those home-hunters who have their sights set on a city centre flat now is the time to see what’s available.”
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