Property sales boom to continue in 2021, predicts Zoopla

Portal has stuck its neck out to say that the current sales surge is set to continue during 2021 despite the Stamp Duty 'cliff face'.

Property sales boom to continue in 2021, predicts Zoopla
More sales at higher prices have boosted the value of homes selling in 2020 – with 2021 forecast to be just as busy for property sales.
Zoopla’s House Price Index reports 40% more demand for housing than in 2019, despite the two-month shut-down.

The greatest increase in property sales agreed was concentrated in the South East and Eastern England, up 20% on last year, and up 9% nationally.

Higher price points meant the value of homes sold went up 26% this year – worth an extra £62 billion – taking the annual total to more than £300bn.

According to Zoopla, this has been driven by a change in lifestyle aspirations as well as the stamp duty holiday; the fundamental search for more space has resulted in the average rate of price growth for houses (4.3%) running at double the rate of growth for flats (1.8%).

PRICE GROWTH

It reports national house price growth is running at a three-year high of 3.9%, the highest since August 2017 and up from just 1.3% a year ago.

Manchester (5.7%) followed by Leeds, Nottingham and Liverpool are recording the fastest growth, but affordability issues have led to slower growth in southern cities such as Southampton and Oxford (2.1%).

While demand is up, the flow of new supply has increased by just 4%, creating an imbalance and an upward pressure on prices.
property sales richard donnell zooplaRichard Donnell, director of research & insight at Zoopla (pictured), says the housing market is ending 2020 strongly, with more buyers looking for a home than this time last year. “Looking ahead to 2021…we expect the number of completed housing transactions to match 2020 levels at 1.1m,” he says.

Donnell adds that the ‘once in a lifetime re-assessment of housing’ kick-started by the pandemic has further to run. “With a long Christmas weekend, and many households isolating in smaller groups, we expect interest in housing to be stronger than usual ahead of the traditional Boxing Day bounce when interest in housing jumps and the next tranche of would-be buyers.”
 
 
 

Get in touch with us

First Name*
Last Name*
Your Email Address*
Mobile Phone*
Are you looking to*
Please enter message here*
Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)*

Register for Property Alerts

Ever missed out on the perfect property just because you heard about it too late, or the Estate Agent never told you about it as it was slightly outside of your criteria? Never miss out again by using our “Heads Up Property Alerts”.

Meet Our Founding Director James

Meet Our Founding Director James

James Allen is the founding director and owner of Allen Residential. James started in estate agency back in 1997 and after working for a couple of strong independent estate agencies he established Allen Residential in 2005 Keen to invest back into his team, James is dedicated to ensuring that each team member at Allen Residential is a key part of the business, emphasizing the importance of their contributions. His leadership style highlights the significance of a cohesive and dedicated team, fostering a supportive and growth-oriented environment. The business has flourished in recent years, thanks to the staff's commitment to excellence and the implementation of effective systems. James' appreciation for his team’s hard work and dedication is evident, making Allen Residential a thriving and dynamic company.

Why choose Allen Residential?

Why choose Allen Residential?

With an owner who has 35 number of years experience in the industry and 20 years of company history, we bring knowledge, reliability, and expertise to every property transaction.

Our approach is casual and professional, aiming to form personal connections with the people we work with instead of treating them as a number.

About Us