UK House Prices Rise

According to Zoopla UK house prices rose by an average of £16,000 in 2021, a record year for housing. The average UK home now sits at £240,800 compared to £224,800 in 2020, an annual rise of 7.1% in house prices. The lasting results of the pandemic, stand duty holiday and work from home mantra has been the perfect cocktail that has allowed people to capitalise.

What we also have to factor is that a fifth of the UK’s housing stock (5 million homes) increased by more than £35,000. This type of growth is market activity that has seen the total value of UK housing rising by £670 billion in 2021 to £9.5 trillion.

According to Zoopla UK house prices rose by an average of £16,000 in 2021, a record year for housing.  UK House Prices Rise 3

Buying demand on average has increased by over 15% since 2020, with the end result being East Midlands showing an increase of 42%, West Midland increasing by 35% and Yorkshire posting a 28% rise. More people moved into a new home in June 2021 than any other year since 2005 when Zoopla began recording housing market activity.

With the stock of homes being down by around 33%, the supply and demand imbalance has created more buying competition which has pushed prices up further. With some homeowners now sitting with greater equity and the demand from owners looking for additional space, they expect demand will remain strong for the foreseeable future.

Call today and speak to one of our team for more information and help with finding the most suitable finance package that meets your needs and suits your specific circumstances.

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Helping you choose the right bridging finance for your home move or investment property

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Contact us today for all your buy to let bridging finance, buy to let mortgage, commercial mortgage, bridging loan for house purchase, HMO purchase, emergency cashflow loans, auction finance, bridging loans for property development, bridging loan mortgage, business bridging loan, commercial development financing.

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LUMI BRIDGING SOLUTIONS IS A TRADING NAME OF FEINGOLD FINANCIAL SERVICES LIMITED
Company registration number 05087823. FCA registration number 303451. Data protection registration number Z8766562

Registered office: Europa House, Barcroft Street, Bury, BL9 5BT.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE SECURED AGAINST IT.