The total value of homes sold in 2021 is predicted to increase to £461bn, according to Zoopla.
The property website said around 1.52 million UK house sales are expected across 2021, up by 45% compared with last year.
Given that the average annual transactions has rarely exceeded 1-1.2 million per year over the past decade, this would mark the highest sales figures since 2007.
High demand for property has been driven in part by the stamp duty holiday in England and Northern Ireland and its subsequent extension has provided an added impetus for many people to purchase a home, the latest report said.
The hottest regional sales markets include Wales, Yorkshire and the Humber and the North West, particularly Liverpool and Manchester, where property is selling 10 days faster than in 2017-2019 and price growth is outstripping the national average.
But London is bucking the trend, with prices broadly flat and properties taking almost two weeks longer to go under offer typically compared with last year.
Grainne Gilmore, head of research at Zoopla, commented: “Households who have the opportunity to commute less frequently have more options when it comes to choosing where to live, and this could prompt a move.”
Gilmore examines how the pandemic-led trends in the housing market will influence sales activity levels this year. Click below.
Sales activity this year set to be highest since 2007 – Gráinne Gilmore
Comments (1)
The ASX provides access to a significant A-REIT portfolio across a wide range of property segments.
There are several companies in this space that have paid regular dividends despite the market remaining volatile in the past few months. Investors can access a huge A-REIT portfolio spread across a wide range of property segments on the ASX.