2021 forecast: 4% price growth as housing priorities outweigh uncertainties
The Rightmove House Price Index was released to the media this morning and gives a national picture of house prices and activity over the past few weeks.
- Rightmove forecasts robust 4% national average price growth in 2021 as housing priorities stay high on people’s life agendas, though price rises for newly marketed properties will be at a slower pace than this year
- 2020’s unanticipated market momentum sees prices finish 6.6% up on 2019 despite a fall of 0.6% this month
- Busy Q1 expected as stamp duty deadline approaches, with logjam of 650,000 properties currently changing hands – this huge number is unchanged on last month due to strong sales agreed for this time of year
- Slower Q2 as average tax saving of 1.9% of purchase price in Great Britain due to end, but ongoing demand and cheap mortgage rates available for some will help to support continued modest price growth
Uncertainties remain in 2021, but housing needs and fresh-start mentality suggest the market will continue to outperform, as shown by 53% more prospective buyers contacting estate agents than at this time a year ago
To read the full Rightmove House Price Index Report, please click or tap here
