UK Property Market Sets Sales Records Amid COVID-19 Pandemic.

Against all forecasts, the UK property market is setting historic numbers.

Hundreds are buying Hard-to-sell houses as Britain’s burgeoning property market maintains a dizzying one-year sales record.

In high-demand areas, even the most disturbed and idiosyncratic homes spend only a few days on the market once buyers, desperate for something, see that predictions of a falling home price are proving wrong.

“Homes that look like the last turkey in the Christmas window are flying off the shelves right now,” said realtor Henry Pryor.

While the property’s merry-go-round was temporarily stopped during the first closure early last year, the hiatus did not last. With sales barely declining over the summer, the data is clear: Along with technology, real estate has become one of the boom sectors of the pandemic.

“House prices could continue to rise in the coming months.”

Andrew Wishart, a real estate economist at consultancy Capital Economics, said: “With the number of second-hand stocks on the market currently extremely limited, house prices could continue to surprise to the upside.”

There is always the possibility that places like Cornwall and cities along the south coast are in a bubble, and prices are about to burst, said Pryor, “but banks and local agents seem convinced that the momentum will keep them going high prices for a long time yet ”.

Mortgage lender Nationwide said its measure of annual increases in house prices marked its second-largest monthly increase in 15 years in August, ending fears that the end of the government’s stamp tax exemption, which caused a drop in the number of houses that changed hands during July, would cause the market to stop abruptly.

According to official data, prices were up 11% from a year earlier, Nationwide said, and remain about 13% above pre-pandemic levels.

In addition to the feverish activity, which has seen some English agents adopt the well-worn Scottish sealed-bid system amid gazumping claims, new home builders have battled steel and lumber shortages and a post-Brexit exodus of staff to build new homes. Many have seen their earnings skyrocket.

HICH LTD has revolutionized the property survey market since day one! Are you looking for a roof, structural, or bespoke survey? Request it here!

Follow us on our social networks to keep up to date with the most relevant property market news, tips for being a responsible homeowner, and much more!

Twitter: @HichLTD

Facebook: HICH-LTD

We are recruiting Freelance Surveyors and Building Inspectors to carry out Roof & Property Condition Inspections. You will be required to inspect and assess the full external and internal condition of various property types, new and old, including Domestic and Commercial. The position is Home-based, covering all postcode areas throughout the U.K.

Fees range from between £150-£195 per inspection, previous experience in building surveying and or buildings insurance claim surveying with a proven track record or property inspection experience essential.

If you or someone you know meets these requirements and wants to be part of the team of the best surveying company in the UK, please get in touch with us at hichinfo@aol.co.uk.