really on the move: house prices set to rise by 7.2%

Average house prices in England and Wales are expected to rise 7.2% over the next three months, according to data collected.

Reallymoving believes finalized sale prices will rise sharply in June (2.9%) and July (3.8%), based on deals made in March and April when the property market rose again following the announcement of the extension of the stamp holidays.

However, he expects the monthly growth rate to fall to just 0.4% in August.

HMRC: Resi transactions up 138% in May

House prices are significantly higher than a year ago, with annual growth reaching 8.5% in June, 9.8% in July and rising to 11.1% in August.

Realmoving transfer quote volumes peaked in March at more than double the usual level and remained high in April, but fell 10% in May.

Reallymoving captures the purchase price that buyers agreed to pay when they search for assignment quotes on the comparison site, typically 12 weeks before completion.

This allows Reallymoving to provide a three-month house price forecast that has historically closely followed Land Registry Price Paid data, released retrospectively.

Rob Houghton, Managing Director of Reallymoving, said: “This period of significant growth for the housing market may show signs of slowing down which will be reflected in the sale prices finalized in August.

“Although demand may be declining, there is still a huge volume of activity in the market which is primarily driven by lifestyle factors as well as tax savings.

“Money is cheap to borrow, workers have more freedom than ever before to live where they want and with fewer demands for savings from vacation and leisure time money, many people remain committed to relocating and adopting a lifestyle that might have been previously impossible. “

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