Strong buyer demand, coupled with lower stock volumes, boosted average house prices by £16,000 in the last 12 months
This represents a +7.1% rise in average house prices, down from 7.6% in August Price rises have increased homeowners‘ equity, with some 15.7 million homes registering a rise in values of £15,000+ in 2021 Buyer demand now easing in line with seasonal trends, but set to build sharply again after Christmas
After a busy start to 2022, the market will start to move back to pre–pandemic conditions, allowing supply pipelines to rebuild. However, the demand/supply imbalance will not fully unwind, and this will be one factor supporting price growth of 3% next.
