Outer City House Price Growth Overtakes Inner City Growth

Posted by Housebuilder Pro on 1st September 2021 -

Rural housebuilders!

Between March 2020 and June 2021, the average house price grew by 10.8% compared with a growth of 8.9% for house prices in cities.

This trend is expected to continue throughout 2021 and beyond due to homeworking.

Andrew Assam, mortgages director at Halifax said:

"It's clear from speaking to our mortgage customers that many have prioritised space over location because of more time spent at home over the past year and a half".

Halifax's research back up data that showed June's annual house price growth was over twice as fast for detached houses compared to other types of housing.

The pandemic has encouraged people to re-evaluate their need for green space. How else has the pandemic impacted the housing industry, and what will it mean for the future?

To Read Further click here  5 Ways the Pandemic will change the way we think about housing