Vaccine optimism gives housing market another shot in the arm
Increasing optimism at the success of the Coronavirus vaccine programme and the relaxation of restrictions have contributed to house prices rising 1.4 per cent in just a month according to new figures.
The annual figure for house prices is now 8.2 per cent higher than in spring 2020 as a slew of indicators suggest the economy is set to bounce back to pre-pandemic levels more rapidly than expected.
The stamp duty holiday continues to add impetus to an extremely active market, magnifying the current shortage of available homes as buyers aim to take advantage of the government scheme.
The influence of the stamp duty holiday will fade gradually over the coming months as it’s tapered out but low stock levels, low interest rates and continued demand is likely to continue to underpin prices in the market.
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