According to Zoopla, the average price of a property is currently £230,700.
British house prices reached a new high last month, 30% above their pre-financial crisis peak in 2008, according to property website Zoopla.
Zoopla also said the average price of a property is now £230,700, an increase of 5.4% compared to June 2020.
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The move comes as the amount of homes for sale in the first half of the year fell by 25% compared to the first half of 2020.
Zoopla said larger family-style homes could become more popular as housing demand has more than doubled compared to pre-pandemic levels.
Real estate websites say there has been an imbalance between supply and demand since the beginning of this year, but there are no signs that supply levels will catch up anytime soon.
“Demand for housing is double what we would normally see at this time of year between 2017 and 2019, and the shift away from demand for apartments is accelerating, creating a difference in the average price growth rates for the two types of properties. “There are,” Zoopla said.
“Housing prices are partially supported by a severe shortage of homes for sale, with inventory levels falling by around 25% in the first half of this year compared to 2020.”
Deal levels continue to develop rapidly, with agreed sales up 22% compared to the same point in 2020.
Furthermore, the capital’s housing market has lagged behind the rest of the country, and this trend is likely to continue.
The North East recorded the highest level of growth at 7.3%, followed closely by Yorkshire and the Humber at 6.8%.
The London market’s growth rate was 2.3%, 3.1% lower than the national average.
Grainne Gilmore, head of research at Zoopla, said: “Demand has slowed from record highs at the start of the year, but remains well above typical levels and we expect above-average activity levels in the coming months. It shows that this will continue.”
“Demand for housing continues to outstrip demand for flats. This trend will be reinforced to some extent by the stamp duty holiday, and larger properties (usually houses) will offer greater savings.”
