As we approach the end of the year, the property market is continuing to recover. House prices rose by 0.4% in December, following a 0.3% increase in November. This is the fifth consecutive month of price growth.
The increase in prices was driven by a number of factors, including the continued progress of the vaccine rollout, the reopening of the economy, and low mortgage rates.
Here are some other important information for the month of December 2021:
The number of new homes being built is still relatively low, which could help to keep prices up.
The government has introduced a number of measures to help first-time buyers, such as the Help to Buy scheme. This could boost demand for property in the coming months.
The Bank of England has warned that interest rates could rise in the coming months, which could dampen demand for property.
Overall, the outlook for the property market is positive. However, there are some risks that could weigh on prices in the coming months.
Happy Christmas and Happy New Year!
I hope you all have a wonderful Christmas and a happy and prosperous New Year. And if you're thinking about moving house in the new year, now is a great time to start looking!
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