Average house prices to rise once again
20 April 2021
By Jeremy Greer
Our House Price Forecast predicts that as a result of the Stamp Duty Holiday, house prices will begin to rise into June after a small dip in May.
According to the reallymoving House Price Forecast, prices will drop between April and May 2021. However, beginning in June, prices will rise once again as a result of high demand.
House prices continued to drop from February into March due to the expected end of the Stamp Duty Holiday, meaning fewer deals were being made on properties. The effect of this dip in demand will be felt into May 2021 where prices are still expected to fall by 5.3% from March.
However, after the Budget was announced, and the holiday extended, demand for houses began to once again surge. Meaning that by June of 2021, prices will have once again started to increase, rising by a predicted 2.8% on the previous month. Although, due to the dip in May, June house prices are predicted to still be lower than those of March despite the increase. Compared to June of 2020 however, house prices will be 4.4% higher.
The fact that house prices will be lower in June than in March despite the increase, can be seen in the regional predictions of the 3 month period. The whole of England and Wales will see house prices drop between March and June, with the largest drop appearing in Wales, with a predicted drop of 10.1%.
In Scotland and Northern Ireland however we are actually predicting an increase in house prices over the 3 months. Northern Ireland will see an average increase of 1.7% and Scotland, 4.2%.
You can see more information in our March 2021 Forecast.
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Quant on 27/05/2021