UK house prices – what to expect

Uk House prices

After an economically turbulent 2020, what are the predictions for the UK's house prices in 2021?

Firstly, house prices in the UK reached an all-time high in December 2020 of £253,000 but as we entered 2021, some property experts began fearing the worst.

This was partly down to the stamp duty holiday that was introduced by Chancellor Rishi Sunak and lots of home sellers joined a stampede to sell.

2021 will be good for those selling property

However, predicting the UK's house prices is not an exact science but experts are hopeful that 2021 will be a good one for those selling property.

It has to be appreciated that house prices tend to fall when the economy is in a slump and with the Covid-19 national lockdown plus Brexit, no-one knows exactly what will happen.

The government is striving to minimise the potential economic impact from the lockdown in a bid to avoid a 2008-style house price crash.

Indeed, real estate firm Savills is predicting that the UK's housing market will continue to see high levels of activity this year.

And, more importantly, it says that over the next five years house price growth will be an impressive 20.4%.

UK house prices will rise

That figure has been underlined by Good Move, a property buying service, who says that the UK's house prices will rise by at least 17% over the next 10 years.

The firm's research also highlights that it's not all doom and gloom - and that the surge to sell homes won't end when the stamp duty holiday finishes in April.

Home Moving Advice also says that the property market in the UK will continue seeing strong demand and their research reveals that 37% of homebuyers are currently looking to move, regardless of the current economic climate.

They also found that 9% of homebuyers wanted to move before house prices rise, and 8% said they wanted to enjoy low-interest rates.

Homebuyers are looking for larger homes

There are also some interesting trends, as revealed by the property platform Zoopla, which says that homebuyers are looking for properties that are not only larger but have access to an outside space.

That's because more of us are working from home and many homebuyers are looking for high-speed broadband and a home-office space.

Essentially, regardless of the economic situation, it appears that there are lots of people looking to move this year which will help push up UK house prices.

However, home sellers will also need to follow the rules and advice for selling a house quickly and this includes staging their property so that it looks its best to a potential buyer. Staging a property for sale will help sell it faster and for the full market value.

Engage a professional home staging service

Using a professional home staging service will ensure you sell your property quickly and for the full market value.

Among the experts are Kharis & Kale Interiors who provide a wide range of design-led home staging services that will provide everything you need to professionally present your property. Packages are bespoke and available on a sale or hire basis.