What will house prices do this year? Do we sit and wait patiently for the much-predicted house price crash in the next few months, or will the UK property market bounce back following the stamp duty holiday announcement?
If, like me, you are confused by the latest figures released by Rightmove, which show a 2.4 per cent house price surge compared to March in the month leading up to 8th July 2020. This number comes in only a few weeks after other house price data was showing a steady decline, with the first annual house prices fall (of 0.1 per cent) since 2012. Buyers and sellers alike are struggling to get their heads around these fluctuations understandably!
It would seem that the government’s stamp duty holiday plan is paying off, at least in the short term: the cancellation of all stamp duty payments on properties up to £500,000 has inevitably resulted in a spike of buyer interest – and in sellers being able to raise asking prices, bringing up the average property price in the UK to £320,265.
To find out more about the effect this is all having on Nuneaton house prices whether you are buying or selling, please feel free to drop us an email at firstname.lastname@example.org.