Comment from Iain McKenzie on Halifax HPI:

The Guild Logo

High levels of property transactions continue to have a positive impact on house prices with the Halifax House Price Index reporting that house prices were +7.5% higher this year than they were in the same month in 2019.  The average house price in the UK is now £250,457, breaking through the quarter of a million ceiling for the first time ever.

Factors such as the stamp duty holiday, exceptionally high levels of mortgage approvals and the demand for larger homes with more space continues to drive the market and push prices up, a trend we expect to see over the next few months at the very least.

Despite the more stringent lockdown restrictions in place, both consumer sentiment and demand in the property market remains strong and the level of enquires and transactions remains unseasonably high. According to Yomdel, traffic to agent websites is currently 24% above average. The vast majority of Guild Member agents are the busiest they have ever been and are focusing on getting customers moved in ready for Christmas, as well as before the stamp duty deadline.

The real test of the property market will be after the first quarter of 2021, when stimulating factors such as the stamp duty holiday comes to an end. Other elements that will come into play at the same time include overseas buyers having to pay a 2% surcharge on homes, as well as the Help To Buy scheme will be restricted to first-time buyers with regional price caps.

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Breaking News

Homeowners in England and Wales overvalue their properties by an average of 16%

Homeowners in England and Wales are overestimating the value of their property by an average of 16%, according to new figures. Data from Quick Move Now compares homeowner estimates with formal estate agent valuations and is broken down by both region and property type. Overall, homeowners overvalue in every single category.   Regional breakdown Region…
Read More
Visual blemishes on Roads due to service upgrades
Estate Agent Talk

Emergency Sidewalk Repairs: When to Act and Who to Call

Sidewalks are the unsung heroes of city infrastructure—quietly assisting tens of millions of footsteps every day. But when they crack, disintegrate, or shift all of sudden, they might quickly turn out to be volatile liabilities. In a town like New York, in which pedestrian site visitors are constant and belongings proprietors are legally chargeable for…
Read More
Breaking News

Reapit report reveals agents’ long-term market confidence amid legislative challenges

Despite the significant challenges posed by a shifting economic landscape and the largest wave of housing legislation in decades, estate and letting agents remain steadfast in their confidence about their long-term future in the industry. According to the first Reapit Property Outlook Report 2025, covering the full breadth of sales and lettings agency opinion countrywide,…
Read More
Breaking News

Owner-Occupiers Drive Resilient Commercial Property Market

Buying Becomes 37% Cheaper Than Renting The latest Commercial Property Demand Index from specialist property finance expert, Rangewell, reveals that while investor appetite across the sector held steady in Q2, strong levels of owner-occupied commercial mortgage activity are helping drive market performance, as business owners increasingly move from renting to buying their long-term premises for…
Read More
Breaking News

One year of Labour: Property market performance review

Investors left waiting for planning reform and incentives but majority plan to increase real estate allocation   Biggest failures: Lack of incentives for developers and investors, and ineffective planning reform Top priorities: Planning reform, tax incentives, and attracting international capital Where opportunities lie: Data centres, warehousing & logistics, and later-life housing Real estate debt is…
Read More
Estate Agent Talk

Plumbing Red Flags Every Homebuyer Should Watch Out For

Buying a home is one of the most significant investments a person can make. While factors like location, square footage, and curb appeal often steal the spotlight, what’s hidden behind the walls is just as important—especially the plumbing. Overlooking plumbing issues during the home-buying process can lead to costly surprises down the road. That’s why…
Read More