๐ Latest average UK property prices rose again in July to £261,221... Though slower annual growth points to a cooling market โ DOWNLOAD FULL REPORT HERE:
Highlights from Halifax's latest report: ๐
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Average UK property price = £261,221 (+£863 from last month) ๐ก
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That's a monthly shift of +0.4% ๐
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Average SDLT around £500, will rise to £3,000 when things return to normal from the start of October ๐ฐ
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Annual house price inflation at 7.6% (compared to 8.8% in June) ๐
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HMRC monthly property transactions increased to the highest ever level ๐ฅ
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UK seasonally adjusted residential transactions in June 2021 were 198,240 – up by 74.1% from May โก
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Compared to same time last year, that's an increase of 219.1% (down to first lockdown) ๐
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Number of mortgages approved fell by 6% to 81,338 (data from Bank of England) ๐ต
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Yet it's 98% HIGHER than June 2020!! ๐ฒ
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*New buyer enquiries up 4 months in a row +14% ๐ซ
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*Newly agreed sales also remained positive with a net balance of +8% ๐ค
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*New instructions fell to -34% ๐
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*Signaling a clear excess of demand over supply ๐ก
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*Data from the RICS' Monthly Report
๐ DOWNLOAD FULL REPORT HERE:
๐โ๏ธ Why is the market so busy at the moment? ๐ค
โก Continuation of SDLT holiday* until 30th September๐ด
โก ‘Race-for-Space’ and lifestyle changes/relocation plans ๐
โก Shortage of supply ๐ก
โก Low borrowing rates*** and the 95% Mortgage Guarantee Scheme (MGS)** ๐ฐ
โก Swift vaccine roll-out which is releasing SO MUCH pent-up demand ๐
โ Outlook for market is far more uncertain โ
โ If unemployment rises, there is scope for activity to slow sharply ๐
๐ *SDLT holiday - ALL YOU NEED TO KNOW here: https://lnkd.in/dCbZdcS
๐ **MGS details here: https://lnkd.in/ddQfqzT
๐ ***Mortgage calculator here: https://lnkd.in/duhThWD
๐โ๏ธ ๐๐ผ๐ ๐บ๐๐ฐ๐ต ๐๐ผ๐๐น๐ฑ ๐ฎ ๐ฏ๐๐๐ฒ๐ฟ ๐ฝ๐ฎ๐ ๐ณ๐ผ๐ฟ ๐๐ผ๐๐ฟ ๐ต๐ผ๐๐๐ฒ ๐ถ๐ป ๐๐ผ๐ฑ๐ฎ๐'๐ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐โ
Get in touch with our EXPERT TEAM and we'll let you know ๐ฆนโ๏ธ๐ฆธโ๏ธ
โ๐ง๐จ
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Property to rent in Nottingham - BEST LETTING AGENCY in Nottingham

Posted 09 August 2021
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