The UK house price data released today showed the second steepest monthly decline in house prices since 1968, of 3.7%, knocking around £10,000 off the value of the average home.
Tom Bill, head of UK residential research at Knight Frank, says:
Like a bad Hollywood blockbuster, the UK housing market looks like it will have a predictable finale this year after an explosive start. Demand remains robust and the economic backdrop increasingly has a feel-good factor as Covid disappears into the rear-view mirror.
The key question is by how much supply picks up as autumn approaches. We expect seasonality and needs-driven…