Sales completions forecast to reach 1.5 million this year, up from 1.04 million last year and the highest level since 2007. The value of sales in 2021 is forecast to be £461 billion, up 68% from 2019 amid a rise in higher-value homes exchanging
Sales completions forecast to rise to 1.5 million
Buyer demand has been strong since the end of the first lockdown last year as households reassess how and where they are living. For some, the need for more space, especially if working from home is to be a more regular occurrence, has prompted a move.
Many older households are also re-evaluating their housing needs and moving for the first time in many years. First-time buyers are also becoming more active in the market, with better access to mortgage finance.
The hottest and coldest markets
As shown on page 2, Wales, Yorkshire & the Humber and the North West are the regional markets registering the highest price growth. They are arguably also the ‘hottest’ regional markets at present – as these markets are also among those where the market is moving more quickly than the ‘normal’ market conditions in 2017-2019.
The time between listing a property and securing a sale subject to the contract (SSTC) has fallen by between 10-15 days in the North West, Wales, and Yorkshire & the Humber, and this is accompanied by the highest levels of price growth.
