House prices rose by 2% in August 2020

Sky news has reported that house prices have reached a new record high after bouncing back from falls earlier this year with the biggest rise since 2004 last month, according to figures from Nationwide. Prices rose by 2% in August compared to the previous month or 3.7% compared to a year ago.

Commenting about the recovery of the housing market following the easing of the lockdown restrictions, David Williams, Director & Head of Property, says

”Whilst the initial rush of property transactions following the easing of restrictions was expected, there having been many active transactions put on hold, the continued surge in new property sales has been extraordinary. This has been fuelled by the temporary change to the stamp duty rates meaning a vast majority of purchasers are no longer subject tax. In addition, I believe the lockdown has made people reassess their living accommodation, looking to move to properties which afford them greater freedom outside with a more flexible arrangement inside for home working.

There seems no let up in the demand for properties and we are certainly very busy at Onions & Davies. If you are thinking of moving and need some advice or information on the costs associated with moving house then please don’t hesitate to contact me.”

Please contact our property team on 01630 652405 for a property quote or further details.