The Locations Where Prices Are Going Through The Roof
The stamp duty holiday undoubtedly had the desired effect. But the end of it along with the furlough scheme means we’re going to have to stand on our two feet from now on.
Experts have been measuring the impact of the stamp duty holiday and are looking into their crystal balls to see what might happen between now and the end of 2021.
Nationwide suggested recently that house prices rose by 10 per cent in the final weeks of the stamp duty holiday. Perhaps this is not surprising given that buyers have had to scramble about to benefit from the tax break in some way.
And another report, this time from Zoopla, is suggesting that house prices are going through the roof in some parts of the United Kingdom. According to the property website, prices have gone up by as much as nearly 10 per cent in certain places between the end of May and end of August.
The average house price also now stands at around £235,000, but which areas are now more expensive to live in than before?
Property experts estimate the average cost of a property in Liverpool at around £180,000 to £190,000. But the new research from Zoopla claims that prices have gone up by 9.7 per cent. This puts prices up to around the £200,000 mark. That can buy you a three bedroom house.
Unlike its northern neighbour, average Manchester property prices are anywhere from £200,000 to £250,000. Prices have gone up by 8.1 per cent. But the good news is that, as long as you are not too fussy, is that a £200,000 to £250,000 budget can still get you a three bed house or even a flat.
Property prices in the Steel City stand at anywhere between £195,000 to £230,000. But they have gone up by 7.6 per cent. But anyone looking to buy a home in Sheffield won’t be short of choice as you can still buy a house or flat for less than £200,000.
Most of the significant price jumps are in the north of England or the Midlands. But the most southerly location with a major price increase is the seaside resort of Bournemouth. Typically, homes in the town cost upwards of £330,000. But that figure will increase because prices have risen by 6.3 per cent.
Prices might have gone through the roof in places, but it won’t stop people moving. And if you’re on the move soon, contact CBS Removals today. Call us on 01480 220434 or email email@example.com.