Over the last twelve months, the average price of a home in England and Wales has increased by around £30,000, or just below 10%, according to the latest e.surv Acadata House Price Index.
According to e.surv, the average price of a house in England and Wales now stands at £339,160 – up by 0.7% on the month and 9.8% on the year.
This is the highest annual rate for over 6 years, giving a real sense of how the housing market is significantly outperforming the wider economy.
The major drivers for the current rise in house prices are the pent-up demand developed in late 2019, along with weaker prices, the historically low-interest rates which have made homes more affordable, the savings accumulated in lockdown, the lifestyle changes associated with a move to more spacious premises and of course the temporary stamp duty holiday. In addition, in London in particular, the weaker pound has been a further factor in stimulating activity in the more exclusive markets even though it hasn’t made a notable impact on the index at this stage.
https://www.propertyreporter.co.uk/property/annual-house-price-growth-approaches-10.html?SRC=MC