The latest trends in the UK’s housing market with a detailed focus on the Meller Braggins local market area of Knutsford, Altrincham and Wilmslow.
At 8.6% in the year to February 2021, annual property prices growth across the UK is at its strongest since October 2014, although month-on-month prices remained static. Property price growth currently exceeds 10% across three regions of the UK (UKHPI).
UK inflation rose to 0.7% in the year to March 2021, up from 0.4% in February thanks to the increased cost of transport, fuel and clothes. Economists predict inflation may well exceed the government's 2% target by the end of 2021, the Bank of England forecast 1.9%.
An estimated 190,880 sales (seasonally adjusted) were recorded in March 2021, the highest monthly total ever recorded. Sales in the first three months of 2021 were up 31% compared to the final three months of 2020 (HMRC).
87,669 mortgages were approved in February 2021 19.5% higher than in February 2020, however, mortgage approvals have slowed, a -11% monthly decline. Gross lending was at its highest monthly figure since March 2016, £27.7 billion.
Average rental values across the UK rose by 1.3% in the year to March 2021, rents in the UK excluding London increased by 1.7%. Rental growth is currently strongest across the Midlands and North West regions.