The eight places where house prices have increased by up to 47 percent.
HOUSE PRICES INCREASED DURING THE STAMP DUTY HOLIDAY, IN PART DUE TO THE PROMISE OF SAVINGS. According to property specialists, there are eight regions in the UK where house prices have increased by more than £100,000 and up to 47%.
Many people have changed their living arrangements as a result of the coronavirus outbreak. Many people have taken advantage of working from home and moved to larger houses or homes with gardens rather than staying close to cities. What does this signify for house prices now that the Stamp Duty Holiday is set to end later this year?
According to GetAgent, there are some postcodes where house values have increased by more than £100,000 this year.
These are some of them:
The results from GetAgent for Renfrewshire imply a 47 percent increase in pricing.
“After a year and a half of dreary lockdown living, it’s natural that movers are emphasizing room and warmth in their search for their dream home,” GetAgent’s Sam Edwards told The Sun.
“It’s no surprise, then, that house prices in England’s southern postcodes have risen to meet this rising demand.
“Sunny countryside counties such as Cornwall and South Hampshire rank among the most popular, with rises of up to £135,128 and £131,708 respectively.”
According to real estate experts, the home market is currently “cooling down,” but demand for housing will remain strong later this year.
“The Nationwide House Price Index for July shows a slight cooling down in the housing market compared to the June report, with prices falling by 0.5 percent in the month and the year-on-year rate of growth slowing to 10.5 percent,” said Mike Scott, Chief Analyst at estate agency Yopa, in response to the Nationwide HPI released on Wednesday morning.
“However, we shouldn’t read too much into a single month’s stats, and some adjustments was always a possibility following last month’s extraordinary results.
“A small percentage of recent purchases were motivated by a desire to avoid Stamp Duty, and despite the end of the tax holiday in Wales and its phase-out in England and Northern Ireland, demand is projected to continue robust.
“Until the end of the Stamp Duty vacation in September, the market will be quite busy, and its trajectory after that will be determined by the wider post-pandemic economic recovery.”
Charlotte Nixon is an expert in the field of mortgages. “Brinkwire News in Condensed Form.”