2020 was a challenging year for all of us, but it would be fair to say the housing market experienced a number of highs and lows.
In spring of last year, the housing market was all but closed down for six weeks. However, the stamp duty holiday stimulated growth and movement in the second half of the year.
At Country Properties, we work locally with buyers and vendors, which means we know what people in our and your community think. However, we also belong in a network, which means we are well connected to the property market across the country.
Property values rose across the United Kingdom
According to Zoopla, the average value of property in the United Kingdom rose by £10,177 in 2020. This equates to a rise of £27.81 per day.
Homes in England received the most significant increase, rising by a value of £11,037 over the year, or by £30.16 per day.
The tally for the UK per country is as follows:
- England rose by £11,037, a rate of £30.16 per day
- Wales rose by £8,706, a rate of £23.79 per day
- Northern Ireland rose by £5,575, a rate of £15.23 per day
- Scotland increased by £4,408, a rate of £12.04 per day.
Has the value of your home improved?
Gráinne Gilmore, Head of Research at Zoopla said; “The housing market has been one of the bright spots of the economy in this otherwise uncertain year. The ‘once-in-a-lifetime’ reassessment among a large cohort of homeowners around how and where they want to live has led to strong levels of demand since the end of the first lockdown. The data reflects an increased demand for additional indoor and outdoor space, and some rural locations have seen a rise in activity levels as those no longer constrained by a daily commute look for a different style of living. These factors, coupled with the stamp duty holiday, has led to one of the busiest Christmas housing markets in a decade, and has underpinned price rises of nearly 4% this year. “
If you are looking to ascertain the value of your home, we can help. Even with new lockdown restrictions in place, the housing market remains open, and we can help you move forward. If you would like to find out more about how we can help, or how we can arrange a property valuation for you, please get in touch today.
In line with Government guidelines, our Baldock Branch is open and our experienced team is working hard to support you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 895061 or 01462 742077, or you could email firstname.lastname@example.org or email@example.com.