Halifax have released a survey that has revealed that there has been a 1.6% rise in house prices in July. The surprise mini boom has pushed the average property value up an average of £3,770. This is the first increase that has been reported by Halifax in over 5 months.
Russell Galley, the managing director at Halifax, stated: “The latest data adds to the emerging view that the market is experiencing a surprising spike post-lockdown.” “Supported by the government’s initiative of a significant cut in stamp duty, and evidence from households and agents suggesting that confidence is currently growing, the immediate future for the housing market looks brighter than many might have expected three months ago.”
Rightmove has said there has been an ‘unexpected mini-boom’ in demand following the reopening of the housing markets. This has been seen across the UK which has lifted prices to a new record high. They say buyer enquiries are also up an ‘incredible’ 75% in comparison with last year.
The housing market has been busy since it reopened after the coronavirus lockdown. The government’s announcement of a temporary stamp duty holiday has also added fuel to the demand.
If you’re looking at purchasing a property, we would be happy to help you. We offer a range of services covering the survey and valuation of properties. All of our surveyors are registered with The RICS and are able to provide you with independent advice and information regarding the property you wish to buy. If you would like more information or to book a survey, please do get in touch. We will be happy to talk you through your options. You can contact us via the website or you can call us on 0151 321 2000 to talk about your requirements. We’d be happy to hear from you.
Sometimes the purchase of your home may fall through. If you have previously booked a HomeBuyer Report with us, we will offer you up to 10% loyalty discount* off your next survey. Just Quote "PROMO10" and we will be happy to help.PROMO10