Property website Rightmove says the UK housing market is set to be closer to “normal” in 2022, following a “hectic” last 18 months.
Estate agents and builders have seen high demand for properties during the pandemic, as people reassessed housing needs during lockdowns. Buyers were enticed by a stamp duty holiday, which has now come to an end.
UK Finance, the trade association for the UK banking and financial services sector, today said 2020 was set to be a record year for mortgage lending. Banks will lend £316 billion against houses this year, up 31% on 2020 levels. House purchases are set to hit 1.5 million this year, up 47% on last year and the highest annual total since before the 2008 financial crisis.
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