by By November this year the average price of a property in the U.K was £272,992. This is £20,000 more, 10.4% more (as a percentage) than December 2020.
Now, Why might this be, you ask?
According to Russell Galley- who is the managing director at Halifax -suggests that the issue is a shortage in available properties and competition between mortgage providers to keep their rates at “historic lows.”
Shockingly, the house sales , post the stamp duty holiday, have plummeted and show a 9 year low. Many believe this is due to the COVID-19 variants which have restricted citizens from moving and economic confidence being shattered due to rapidly increasing prices of necessary goods.
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What do you think can be done to increase property sales?
https://www.ft.com/content/fc33b109-0d7a-426d-ac64-d01a0fb89f12