Levenshulme and Burnage Property News
Stepping into spring
Tom Simper
Apr 12, 2021, 11:15 AM
As we enter spring, the average UK house price is £232,134, up 6% on March 2020. Transactions are 49% higher than last year, reflecting a surge in sales agreed in summer and the rush to beat the SDLT holiday.
House price growth in March slowed (-0.2%), indicating a softening of demand ahead of the original SDLT holiday deadline. Monthly mortgage approvals also slowed in February (-11%).
Demand spiked after the announcement of a SDLT holiday extension in England, Wales and Northern Ireland. With demand up 13% and flow of new supply down -13%, we expect upward pressure on house prices.
We are likely to see an increase in new listings, as sellers become more comfortable with viewings, as restrictions ease. Source: Dataloft, Nationwide, HMRC, Bank of England, Zoopla
About The Blog
This Blog looks at what is happening in Manchester, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area.
Tom Simper - Editor
Manchester is one of the fastest growing markets in the country. If you need any assistance buying, selling or letting properties in the area we have over 30 years of experience and local knowledge to help.
T: 0161 441 0563
E: [email protected]
Leave a comment