Today’s Office of National Statistics latest figures are in for July 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).
Property prices still remain high and have once again risen across the UK year over year. The average price in the UK is (as of July) is £256,000 which is £19,000 hour than the previous year though slightly below (-13.1%) the high of June’s £265,000.
There were fewer property transactions than expected which could be due to stamp duty ending or the pandemic.
Duncan Fretter, head valuer says “Whilst transactions have dipped which might be where properties were unable to hit the stamp duty deadline….The year on year growth is still thrilling for the marketing and there aren’t many signs of it stopping”
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.