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UK house prices add to record six months with July rise - Rightmove


UK house prices add to record six months with July rise - Rightmove
Mon, 19th Jul 2021 04:57
(Alliance News) - UK house prices climbed to a fourth successive monthly record, figures from property portal Rightmove showed on Monday.
The average UK house price rose 0.7% monthly in July to GBP338,447, the largest July climb since 2007. Annually, house prices were 5.7% higher.
It was the fourth monthly high in a row, and Rightmove noted UK house prices have climbed by 6.7% in just six months.
Rightmove analysis has identified a shortfall of 225,000 homes for sale which, if available, would have helped to maintain a more normal level of property stock for sale and would have helped stabilise prices. This stark shortfall, along with frenzied buyer activity, is fuelling record high prices and leading to record lows in available stock for sale, Rightmove explained. ....

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First home scheme: is it beneficial for Lancashire buyers?


The scheme offers discounted new-build homes to local first-time buyers.
However, an East Lancashire estate agent suggests that it might not be the most useful initiative for first time buyers who are on the market.
The aim of the scheme is to help local first-time buyers – many of whom will be key workers like NHS staff and veterans – onto the property ladder by offering homes at a discount of between 30 to 50 percent compared to the market price.
Once the discount has been factored in, the most expensive properties available (outside London) is £250,000.
The government say the aim of the scheme is to support local people who struggle to afford market prices in their area, but want to stay in the communities where they live and work. ....

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