The UK housing market has seen significant growth this year, increasing by 5.6% in the past six months predominantly driven by levels of demand by buyers. The expectation is the market will see prices increase across the UK by 9% by the end of the year.
Savills believe that while transactions and price growth will continue into 2022, it’ll be tempered by the exceptional growth we’ve seen this year – especially if interest rates start to rise sooner than expected. This will lead to a ‘soft landing’ rather than a dramatic price correction over a short period of time.
Properties in North Hertfordshire continue to see growth, with exceptional demand in the Harry Charles area in Watford, Bushey, Kings Langley, Abbotts Langley and Hemel Hempstead.
Whilst sales continue to blossom, The UK rental Market has continued to grow exponentially. JLL expect that rental prices will grow by 9.5% by 2025, as the UK market continues to grow alongside increased demand.
With the UK economy faring better than expected in terms of unemployment and GDP growth, the UK property market forecast suggests that this rental growth is sustainable going forward.
For more information on the local market and discuss your requirements please call Mark or Tyler at Harry Charles Estate Agents on 01923 731313 or email firstname.lastname@example.org.
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