15 Sep Britain’s pandemic house price boom
Covid has also led homeowners to reassess where and how they want to live.
The pandemic accelerated a shift towards remote working, and has meant big savings for some parts of society. If you add in to the picture government support through stamp duty holidays, as well as historically low mortgage rates, you have a rapid increase in the number of buyers.
In areas where the number of homes for sale fails to match that demand, prices have soared. The Royal Institution of Chartered Surveyors (RICS) says the average number of properties on estate agents’ books is close to record lows.