If you have been following the news, you’ll have seen that property prices across the UK have been going upwards and quite considerably.
The ONS, Halifax and Nationwide all report a sharp increase in annual house price growth since the stamp duty holiday announcement in July 2020.
The average UK House Price is now £251,500. Closer to home in Lancaster it is £151,127 and across in Morecambe it is £140,933. Out in the villages (LA2) it is much higher at £242,876.
In January 2021 Halifax and Nationwide reported a slowdown in house price growth, a -0.3% monthly decline. This was thought to be due to the stamp duty deadline of March 31st, however now is this expected to be extended in the next weeks budget, the demand for houses doesn’t seem to be waning.
Across Lancaster & Morecambe there is a property shortage, hence the prices are kept higher due to the lack of supply and high demand. Could now be a good time for you to sell?
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