A report released on Tuesday by GetAgent.co.uk made the prediction that the value of U.K homes will rise by roughly 14.5% over the next 4 years.
The average price of homes in the U.K. is in the ballpark of 233,512 EUR ($305,007 USD equivalent) and due to the recent boost of home sales, with an average of 33,877 EUR added to the value of the average UK home. This makes the overall value average a 267,512 EUR according to GetAgent.co.uk.
It was stated that the areas most likely to have their home value percentage increased will be Yorkshire at 14.9% and Humber at 14%. Colby Short, founder and CEO of GetAgent.co.uk said this: Though the U.K.’s property market is thriving “the huge rates of growth currently being seen are likely to subside over the coming months. Particularly as we approach the stamp duty holiday deadline,” he said. Colby Short, founder and CEO of GetAgent.co.uk, said in the report. “That said, the long-term view of the market is good and the general consensus is that a more subdued but stable rate of growth should prevail.”
He added that: “While this will result in a slower rate of house price growth to what we’re seeing currently, it should ensure positive movement across the U.K. market, with house prices increasing substantially regardless of where you live,”
The stamp duty holiday, got rid of the tax on transactions of up to half a million EUR, which will boost the economy up until March 31st 2021. Currently, London town has the lowest growth rate which is speculated to be at 9.1% by 2024. The avrage home in London cost around 479,609 EUR, but is speculated to grow by 43,644 EUR. In the Southeast, homes are speculated to be valued at an average 364,192 EUR, adding on 40,178 EUR by 2024
Stay in the know with the latest culture news