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  • Writer's pictureHockley Developments

Asking prices for sold homes 7% higher than last year

Only 4 cities across the UK are showing annual growth of over 3%, and only one is showing growth of over 4% - any ideas which one?! 

Link to full report here

Overall very positive in terms of demand, lack of supply, and prices across the UK as can see below:

"Asking prices for sold homes 7% higher than last year" "One indicator is the average asking price for homes marked as sold on Zoopla in the first 2 weeks of June which are 7% higher than a year ago (on a non mix adjusted basis) - see Figure 2. This is a return to levels seen over the first quarter of 2020. We are not saying the growth rate in our UK house price growth is going to rise over 5% in the near term, but the general direction of the two series track each other over time supporting our view that house price growth will hold up in the near term." "While the flow of new supply has returned to pre COVID levels, overall stock levels per agent are lower because of no new supply coming to the market over the lockdown period. Constrained supply is another reason why we believe house prices will rise in the short-term but it will be a concern for agents looking to rebuild sales pipelines. The message for would-be sellers is do not delay and list now while market conditions are stronger."

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