House Prices Rise Again in November

House prices have continued to rise in November. So far the average rise for England & Wales house prices is 5.8%.

Despite lockdowns, the market has continued to be buoyant. Part of this surge is the rush to complete on properties before the stamp duty holiday ends on March 31^st 2021.

Property Investors, Landlords and Owner Occupiers have all been looking at completing before this date and there has been delays and backlogs in the mortgage system.

The average property price in England & Wales is now £319k, 1% higher then October.

Its figures show the average rise in property prices excluding London was 6.1 per cent across England and Wales.

House price growth has been slightly lower than previous months but still up year on year.

The second lockdown has appeared to have had a minimal effect on the market due to the industry adapting to support homebuyers.

Estate agents have reported the lockdown created a widespread re-appraisal of lifestyle, not least with the possibility of working from home becoming a potential permanent feature for some. There has been an appetite for home with more space, including gardens and less crowded locations.

If you are thinking about taking advantage of the Stamp Duty Holiday I recommend starting your mortgage application as soon as possible to avoid possible delays.

I can help take you through your options and different lenders.

Thanks for reading…

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