Today’s Office of National Statistics latest figures are in for August 2021. This gives a real insight into what the property market looks like in the UK. There are a lot of statistics and data around each release but we’ve decided to summarise the release into an easy-to-read visual data image (below).
We are continuing to see the trend of property prices rising across the UK year on year. The average price in the UK is (as of August) is £ 264,000 which is £25,000 higher than the previous year.
Duncan Fretter, head valuer says “We saw transactions dip in July following the end of the Stamp Duty break for properties up to the value of £500,000. However, following the decrease in July, average house prices in August 2021 were close to the peak seen in June which is very positive.”
Regardless of the statistical price of the property, we will always buy any house anywhere in England or Wales.
Let us know what you think the future holds for the property market in the comments and stay tuned for another post next month.