House prices at new high as buyers seek more space
Written by crest887fm on July 27, 2021
Property website Zoopla says demand for houses will last well into 2022 as buyers continue to look for more room after being cooped up during the pandemic.
A search for space has pushed up the average price of a house by 7.3% over the past year, reaching a new high of £230,700.
While houses are proving popular, flats are less sought after.
But properties of all kinds are in short supply, the firm stressed.
It added that demand for houses is twice as high as typically seen at this time of year between 2017 and 2019, accelerating away from demand for flats, creating a disparity in average price growth across the two property types.
The firm said that while house prices were surging, the growth in flat prices was lagging at 1.4% over the past year.