The soaring demand has also created rocketing house prices - they are rising 6.9 per cent annually right now, only a fraction below the 7.0 per cent seen in the early autumn.

At a regional level, Wales continues its eight month run of registering the highest rate of house price growth, up at 10.8 per cent, followed by the North West of England on 9.0 per cent. Yet again London offers a sharp contrast; after being most affected by the pandemic and subsequent lockdowns, it is registering more modest price growth of 2.3 per cent.

Supply continues to be a major worry, and the portal says the total stock of new homes for sale is down more than 40 per cent on the five year average: within that figure, the number of houses available for sale is actually down more than 50 per cent while the stock of flats for sale is also down on the five year average, but by a more moderate 15 per cent.

The contrast in stock availability is also reflected in price growth, with the average flat rising in value by 1.6 per cent over the past year, while houses are seeing rises at an average 8.3 per cent. 

 

source:https://www.estateagenttoday.co.uk/breaking-news/2021/11/amazing--one-in-every-16-homes-has-been-sold-this-year