Real estate expert explains why the UK property market is booming and what could happen next Business News

HHome prices have risen rapidly since the start of the pandemic as people sought more space and took advantage of tax breaks for the purchase of a home.

At the same time, households who worked during the pandemic spent less money, allowing those who still worked to save for a bond.

After the temporary hiatus in the real estate market in March of last year, activity surged as the number of sales hit a new record.

The average selling price of a house in England has jumped 10.2% in one year since the start of the pandemic in March 2020.

Experts have suggested that the latest data points to some early signs that the housing market could cool, but that many uncertainties remain.

However, with interest rates remaining very low, some analysts are predicting that prices will continue on a seemingly relentless bullish march.

The situation also raises questions about the sustainability of an increase in house prices faster than wages.

All of these factors mean that there is a lot to consider for anyone considering buying or selling a property.

Watch the full interview in the video below

Housing expert answers readers’ questions about the UK property market

Tim Bannister, director of real estate data at Rightmove, answered questions from readers about what’s impacting the market right now and what could happen later.

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This notice was published: 2021-06-25 12:14:00

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