Housing stock has seen a 40 per cent decline since January 2021, according to figures released by Propertymark, despite strong seller’s market.
A combination of the Stamp Duty Tax holiday, which transitioned to a new phase at the end of June, as well as a nationwide shift in lifestyle needs during the pandemic bred record-breaking sales.
The new ‘three-pronged approach’ focuses on affordability and availability of housing, which includes plans for a pilot area, where new measures will be trialled and evaluated before a wider rollout.
On 16 June, the Welsh Government debated the housing crisis facing locals and Siân Gwenllian MS began the debate by introducing several housing issues that were echoed by other MSs in the Chamber.
Market activity continues to grow and the appetite from prospective buyers is such that many properties are not being listed on the property portals, as agents focus on fulfilling Consumer Protection Regulations, completing Property Information Questionnaires, and marketing properties to those proceedable buyers, already registered with the agency.
Housing markets are flourishing, with many experiencing high levels of demand and houses being sold on a best and final offer basis in much of the UK. Following the UK Government budget at the start of March, the latest figures for England continue to show growth.
With the demand for rental property on the increase and the sales market experiencing a significant rise in mortgage applications, lockdown hasn’t been a deterrent for buyers and renters determined to make a change.
The Northern Ireland Statistics and Research Agency have released their findings for the Northern Ireland House Price Index for the period between October and December 2019 and show the positive figures from previous quarters have continued throughout the year.
The most recent report from the Registers of Scotland has revealed the average house price for a property in Scotland during December 2019 was £151,603, an annual price increase of 2.2 per cent.
House price data released by HM Land Registry shows UK house prices rose slightly between October and November 2019.
The latest UK House price index shows that, on average, house prices have risen by 0.8 per cent between July and August 2019. An annual price rise of 1.3 per cent makes the average property in the UK valued at £234,853.
Homes close to parks, gardens, playing fields and other publicly accessible green spaces in urban areas of England and Wales are more expensive than they would be if they were further away, Office for National Statistics (ONS) analysis reveals.
The average price of a property arriving on the market has dropped by 0.2 per cent this month, according to market data from Rightmove. This small dip comes at a time that normally sees the first signs of an Autumn recovery and is the first price fall recorded in September since 2010.
House prices have fallen across all three regions of the South of England for the first time since 2009, the latest report from the Office of National Statistics shows.
The May house price index has again shown the average house price in Scotland has increased compared to the same month last year and has also increased each month since May 2016.
The Bank of Mum and Dad (BoMaD) forks out even more in 2019 as family and friends spend an average £6,000 more than in 2018 to help loved ones onto the housing ladder.