Why are UK property prices rising again?
Why are house prices rising again?
When unemployment is soaring and 11 million people are on job furlough, why is demand for property rising again and why are prices climbing back to pre-lockdown levels in certain areas of the UK?
Against all the odds with the economy tanking, demand for UK property is up!
According to the online property platform, Zoopla, the number of agreed home sales is up 4% compared to pre-lockdown levels in early March.
House prices rose by 2.4% in May.
Buyer demand across the UK is 46% higher than it was in early March, when demand for housing fell by 70%.
Where is the highest growth taking place?
Over the longer term, property always bounces back from recessions, depressions and even wars. One reason is the simple economics of supply and demand.
The UK is small country with a growing population, as well as being the 7th largest economy in the world.
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