In line with what other industry commentators have shared, Nationwide's August House Price Index continues to highlight that the housing market is very active. This monthly report confirms that there was a 3.7% annual house price growth and prices were up 2% month on July.
Their monthly summary indicates:
Robert Gardner, Nationwide's Chief Economist, says:
“UK house prices rose by 2.0% in August, after taking account of seasonal effects, following a 1.8% rise in July. This is the highest monthly rise since February 2004 (2.7%). As a result, annual house price growth accelerated to 3.7%, from 1.5% last month.
House prices have now reversed the losses recorded in May and June and are at a new all-time high.
The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions.
This rebound reflects a number of factors. Pent up demand is coming through, where decisions taken to move before lockdown are progressing. Behavioural shifts may also be boosting activity, as people reassess their housing needs and preferences as a result of life in lockdown. Our own research, conducted in May, indicated that around 15% of people surveyed were considering moving as a result of lockdown.
Moreover, social distancing does not appear to be having as much of a chilling effect as we might have feared, at least at this point.
These trends look set to continue in the near term, further boosted by the recently announced stamp duty holiday, which will serve to bring some activity forward. However, most forecasters expect labour market conditions to weaken significantly in the quarters ahead as a result of the aftereffects of the pandemic and as government support schemes wind down. If this comes to pass, it would likely dampen housing activity once again in the quarters ahead."
Learn more here.
Do You Intend to Sell Your Home?
If the answer is yes, do you want to benefit from the stamp duty holiday and sell quickly and for more? We can help with our professional home staging service.
How To Sell For More and Quickly
Breathe fresh life into your home to attract your ideal buyer. Professional staging will help you achieve this in a number of ways:
1. It will mean your marketing content is superior and your home will stand out from the crowd for all the right reasons
2. It will increase the number of buyers who view your property both on-line and in person
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4. Not only is it likely to result in a sale, your home is likely to sell for more - typically 8% and quickly.
It may also mean that you benefit from the stamp duty holiday.
How sort style and stage can help
Whatever the size, shape or value of your home, we can maximise its appeal to your target market. We do this by:
1. Understanding your target market and your competition
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3. We then focus on maximising your property's appeal to your target market, in and out with our well proven staging methodology. We have a range of home staging, virtual and property staging services - all tailored to your specific needs.
Professionally staged properties sell for more, typically 8% and sell more quickly, typically up to 3 times faster than a non-staged property - this is evidenced by the Home Staging Association UK & Ireland.
If you professionally stage your home, you will be that step closer to securing a sale and can even potentially benefit from the stamp duty holiday.
If you want to sell and add value to your home, call us now on +44 7984 005 626 for a
no-obligation 30 minute discussion
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