It's no secret that UK house prices are soaring, and nothing, not even the pandemic, seems to be slowing them down.
Official figures show they have been increasing at their fastest rate in more than a decade. Although, annual price growth has moderated since the double-digit figures evident in May and June 2021.
However, the search for space continues to drive demand as an average of independent forecasts predicts prices will end the year 5.8% higher than at the start. Working from home, at least part-time, is a lasting legacy for many of COVID-19.
Properties are still selling quickly and the majority of estate agents predict prices will continue to rise over the next 12 months, according to the latest survey by RICS.
An average of independent forecasts produced to date in 2021 suggests prices will rise by 3.9% over the course of 2022.
Source: Dataloft, HM Treasury, average of independent forecasts published in 2021 to date.
