Last July, the Times reported ‘House prices could rise by more than 20% in five years’ Today, they are reporting that ‘House price rises to ease after this year’s sales boom, estate agency Hamptons says’
Todays article starts:
House price growth will slow over the next four years after 1.5 million completions this year, the most since 2007, according to research by a leading estate agency.
Hamptons says the boom in demand that saw the market accelerate sharply will taper off next year and beyond but average prices will still be 13.5 per cent higher by the end of 2024.
However, it notes that this figure will mask widespread regional variations, with London set to underperform compared with the rest of the country and the market more buoyant in the north. Hamptons predicts that by 2024 prices will be 20 per cent higher in Scotland and 21.5 per cent higher in the north east.
The desire to relocate during lockdown and the stamp duty holiday fueled a record-breaking housing market in the first half of 2021