Property Price Predictions

An article in The Times yesterday reported on property price predictions for 2021. According to the property portal Rightmove there will be a strong demand for new homes, a surge in household savings and cheap mortgages mean that the market will post another year of gains, and i agree!

Nothing in 2020 stopped the property market rising as normal and I’m not sure there’s anything predicted for 2021 that will change that. Although the end of the stamp duty holiday on the 31st March, fears of an imminent slowdown are unfounded. “We are confident that the housing market will continue to outperform general expectations next year as it did this year,” Tim Bannister, director of property data at Rightmove, said. “Demand still remains very high, indicating that there’s plenty of fuel left in the tank for the housing market. Interest rates remain at near record lows and we expect greater availability of low-deposit mortgages at competitive rates next year.”

At last some common sense comments about the property market. For some reason many people constantly predict crashes, falls and calamity and that just doesn’t happen in the UK property market long term because demand is so high!

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