The UK experienced a 13.2% annual increase in house prices in June 2021. This is the largest annual increase recorded since 2004.
The average price of a UK house now stands at a record high of £265,668, which is £30,965 higher than the same time last year.
All regions in the UK experienced an annual increase in house prices. The North West experienced the biggest increase (18.6%), followed by Wales (16.7%) and Yorkshire and the Humber (15.8%).
As for the East of England, the annual increase stood at 12.1% which is great news if you are thinking about selling in Cambridgeshire or Bedfordshire.
There are early signs of house price growth slowing down, with Nationwide reporting a monthly decline in July house prices (-0.5%) and Rightmove reporting an overall decline in ask prices (-0.3%).
So what are you waiting for? If you are thinking about your next move and would like to know the current value of your home, then contact us today to book a property valuation.