Nationwide have announced that "2021 was the strongest calendar year for house price growth since 2006". This has meant that the average UK home at the end of the year is said to be worth £254,822 on average, equating to an annual increase of 10.4% and 16% higher than pre-pandemic numbers. For a home sitting at the national average, in one year alone, the price has increased by nearly £24,000.
The stamp duty holiday (which reverted to normal in September 2021) was one of the most significant factors for the 1.5 million house purchases that occurred in 2021. There was also a demand for space following people stuck in their homes during lockdown and therefore wanting more from their properties such as a study or larger gardens.
In the South East the average home in the last quarter of 2021 sat at £329,869, meaning an annual increase of £33,579 (11.3%). If you are wondering if now is the time to sell your home then speak to your Ashford agents - Evolution Properties, about your property. We can not only offer advice but a valuation to help you make your decision, just call him today on 01233 501601.