It’s way above the level I saw last year
The UK housing market has experienced a tough shortage for sale as buyers rushed into the market before the stamp mission holiday ended.
Real estate site Zoopla says the UK is facing “the biggest stock shortage since 2015” as the number of real estate in the market plummeted in June compared to the average level in 2020.
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The supply shortage could last until 2022, as demand remains well above the levels seen last year. Home prices appear to continue to grow.
“Home price growth is 6% year-on-year, so we expect to see a moderate 4% to 5% by the end of the year,” Zoopla said in its monthly home price index.
The average price growth for a home is 7.6%, but for flats, this figure drops to 1.2%.
Stamp work leave, which provided relief up to £500,000 when purchasing the property, is now tapering. Until the end of September, buyers will be able to receive relief for their first £250,000.
“We’ve seen a lot of effort and we’ve seen it,” said Gráinne Gilmore, director of research at Zoopla. This means that higher levels of demand are still evident and potential vendors with family homes to sell may be in Paul’s position. ”
“However, the shortage of supply in particular for family homes is that the market will start to naturally slow down for the rest of the year, with more stock available for buyers before moving on, so the market will start to slow down naturally. It means “
