Today’s Office of National Statistics latest figures are in for June 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 remain high and have risen across the UK. The average price in the UK is (as of June) is £265,668
Property transactions were up year over a year by a lot – 111.8% in England, 199.4% in Scotland, 85.2% in Wales, and 335.0% in Northern Ireland.
Again we see London and the south east lagging behind the rest of the country in terms of growth. Duncan Fretter, head valuer says “It’s very interesting to see this and good that the UK is becoming more balanced in terms of housing costs. There are many reasons London is experiencing slower growth – reduced overseas investment, the exodus following the pandemic and the cladding crisis are all having an effect. That said, the prices are still increasing fast, it is far from a quiet market anywhere!”
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.