Home prices will increase slightly in the coming months

UK property prices are expected to rise by 1.9% between June and September, according to the results of a recent study of the UK property market.

There was an increase in buyer demand after the quarantine was lifted, which could increase after the government’s launch of the tax holiday. This move by the authorities could cause house prices to rise slightly in the coming months.

“Buyers are regaining confidence in the real estate market”

Rob Houghton, executive director of real moves, said: “Buyers took a cautious approach when the property market reopened for the first time, but now we are seeing a clear increase in activity levels and a corresponding increase in agreed sale prices.”

“There is little positive economic news on the horizon, but buyers who are confident in their jobs and financial position may be deciding to move on now instead of waiting indefinitely, especially as many have already been delayed for months or even years waiting for a Brexit resolution.”

“Low-interest rates and the Chancellor’s gift in England and Northern Ireland will further encourage them.”

However, the longer-term outlook for the housing market remains unclear and will depend heavily on the success of government investment in job creation and financial support, particularly after the leave and vacation plan mortgage payments come to an end.”

The increase will depend on the number of buyers willing to purchase properties

Average prices are expected to rise from £ 308,280 in June to £ 314,235 in September 2020 based on the number of home buyers who sign up for quotes on home moving services.

Average prices are expected to drop 1.4% in August 2020, the first annual price drop in thirteen months (excluding data from April and May when transaction volumes were too low to be reliable), before returning to the territory positive in September with 4.7% annual growth.

However, these numbers may vary depending on the number of buyers who decide to purchase properties in the coming months. Another essential factor will be the decisions that the government makes in economic matters, for example, if the government decides to give a new period of extension to the aid schemes that it offered during the Coronavirus pandemic.

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