With demand skyrocketing and limited supply, the housing market boom continues to surge forward as we head into the warmer seasons. Nicky Stevenson, MD of Fine & Country UK, adds that the imbalance of supply and demand is continuing to push prices up.
She says: “The Nationwide House Price Index reported further acceleration in annual house price growth in May 2021 to 10.9%, the highest level recorded since August 2014. Monthly house prices rose by 1.8% in May, following a 2.3% rise in April. According to the ONS House Price Index, Yorkshire and the Humber has seen the largest annual increase in prices, at 14%. This is followed by the North East at 13.7%, and the North West with 12.8% growth. House prices continue to increase as housing market demand outweighs supply, putting upward pressure on prices. In April, 32% of properties sold for more than the original asking price..
Click this link to read the full article.