Property prices to rocket as housing supply shortage intensifies
Predictions of price rises are at the highest level since the pandemic began
8 April 2021 • 6:00am
The housing boom is expected to accelerate in the coming months as a property supply shortage could cause a “bottleneck” in the market and push up prices.
Surveyors said they had witnessed an immediate surge in property sales in March, following the extension to the stamp duty holiday. In many cases buyers have been forced to submit offers way in excess of the asking price to secure properties.
However rising prices have not deterred buyers and predictions of rising increased sales activity are now at their highest level since January 2020, according to the latest industry survey by the Royal Institution of Chartered Surveyors.