House prices soar to all-time high during Covid pandemic
THE average price tag on a home in Britain has reached one third of a million pounds, according to a property website.
House sellers were typically asking for a record £333,564 in May, Rightmove said.
The average asking price has jumped by £5,767, or 1.8%, since the previous all-time high recorded in April.
Demand continues to massively exceed supply, particularly in northern regions, Rightmove said.
Prospective buyers are now typically faced with record prices for newly-marketed properties in all regions and countries of Britain except London, Rightmove added.
On average, house prices outside southern England have increased by around £19,497 over the past year, while in London they are up by £1,547, according to Rightmove.
Mark Manning, managing director of Yorkshire-based Manning Stainton, said: “Across our region we’re seeing a continued surge in the volume of new buyers entering the market.
“Of particular note is the vast number of those buyers arriving from other destinations around the country, particularly the South.
“This surge in buyer activity combined with a relative shortage of new properties coming to market has had the inevitable effect of creating a significant surge in prices with buyers clamouring to get their hands on most listings that hit the market.
“We can see little sign of this abating and would predict that even with the end of the present stamp duty incentive that prices will continue to rise through the rest of this year and likely beyond.”