UK house prices reach a 6 year high
Nationwide Building Society data shows house prices are up 7.3%
Lockdowns, working from home and Furlough have all played their part in altering the property market this year
We’ve all had to adapt over the last 12 months in our work and personal life’s. From work Zoom calls at the kitchen table, to not getting to see friends and family as much as we would like to, it’s been a tough year for everyone.
The property market has also had to adapt. Demand has remained high throughout the year and with the help of the Stamp Duty Holiday, property prices have soared. The table below shows how The Midlands property market has performed over the past year.
| Area | Average House Price December 2020 | Annual House Price Increase |
|---|---|---|
| Birmingham | £211,000 | 5.59% |
| Derbyshire | £217,000 | 3.62% |
| Leicestershire | £250,000 | 4.76% |
| Nottinghamshire | £191,000 | 4.42% |
| Shropshire | £237,000 | 2.90% |
| Staffordshire | £202,000 | 4.42% |
| Warwickshire | £311,000 | 3.48% |
| Worcestershire | £273,000 | 1.75% |
However the biggest challenge facing many sellers, is what buyers are now looking for. Our video below shows the results of a recent survey carried out across the UK and demonstrates what house hunters are now prioritising when looking for a new home.
