House Prices reach record high in August 2021

HOUSE PRICES AT A RECORD HIGH | HOTTEST EVER COMPETITION TO BUY A HOUSE

• The national average price of property coming to market hits a new all-time high after rising by 0.3% (+£1,091) this month, to £338,462

• This new record high is only £15 higher than the previous record set in July, a sign that prices are now stabilising

• Hottest ever competition to buy, with buyer demand per property for sale more than double pre-pandemic levels

• The rise of the ‘power buyer’ continues – those who have already sold their own home, have cash in the bank, or are first time buyers with a mortgage agreed, are in a more powerful position and are out-muscling those who still need to sell their current home

• Early signs of a better-balanced autumn market with more homes coming up for sale to help with buyer choice, with the number of new listings in the first two weeks of September 14% higher than the last two weeks of August

@rightmoveuk have just released their National House Price Index for September 2021

Here is their full report:

Interesting to see that West Midlands prices have risen 0.6% in the last month, with a 6.9% year on year increase.