Today’s Office of National Statistics latest figures are in for May 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).

What can we learn from this release? Property prices remain high with a bit of a stall in a few areas but overall year on year everything is up.

The average price in the UK is (as of May) is £254,624

Property sale volumes are also up (by 31.7%) from previous years. People at this stage were most likely still trying to get in for the stamp duty deadline. Property transactions were up year over a year by a lot – 103.7% in England, 94.0% in Scotland, 55.6% in Wales, and 75.9% in Northern Ireland.

We’ve asked our property experts here, at HouseBuyFast, what they think this means for the future and they’ve said –

“We’ve found ourselves helping a lot of people looking to move quickly and get involved with the stamp duty holiday as well as other circumstances.” – Duncan Fretter Senior Property Buyer

“There is a lot of demand and not much supply which has maintained growth and the fuel to the fire was the stamp duty holiday which has continued in May”
 – Jonathan Rolande Director

Regardless of the statistical price of the property, we will always buy any house anywhere in England or Wales.

What do you think the future holds for the property market? Let us know in the comments and stay tuned for another post next month.