LATEST figures show that prices properties sold for in Chester over the last year are up by 11 per cent.
And experts have said the property market in the city is showing no signs of cooling down.
Property prices across the city are continuing to rise due to pent up demand from lockdown, the stamp duty holiday as well as the 95 per cent mortgage offering, which has helped more first-time buyers come to the market.
According to Rightmove, sold prices in Chester over the last year were 11 per cent up on the previous year. Nationwide also reported house price growth rises to 10.9 per cent, the highest level in nearly seven years, with a new record average house price across the UK of £242,832, up £23,930 over the past twelve months.
Matthews Estate Agent in Chester is seeing a distinct lack of supply, particularly houses with good outside space and an extra room that can be used as a home office.
Rebecca Matthew, director and owner of Matthews said: “The fast approaching stamp duty holiday deadline has certainly played its part with buyers wanting to get their completion over the line before it ends.
“But there are other factors too such as home working spaces and the mortgage guarantee scheme which are contributing to the high demand. We don’t see the housing market cooling off any time soon.”
Credit: Source link
