House prices hit record highs as ‘unnecessary fear’ of Brexit fades and market booms

House prices hit record highs as ‘unnecessary fear’ of Brexit fades and market booms

Nationwide’s index, which is based on mortgage lending, reported a 0.8 percent monthly and 7.3 percent yearly escalation in December, while Halifax’s numbers stated a monthly 0.2 percent and annual six percent incline.

The transaction numbers have also significantly risen, with provisional data from HMRC indicating that 115,190 property sales went through in November alone, up 19 percent year-on-year.

Mr Fenner explained: “House prices have been hitting record highs since August and the property market reached an all-time high last summer in tough conditions.”

Now with the vaccination programme well underway and the certainty of a Brexit deal, things will likely be even more positive going forward, according to the expert.

Published at Fri, 22 Jan 2021 13:07:00 +0000