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ONS annual house prices up 8.9% in April

ended 15. June 2021

The annual growth rate in the UK property market dropped slightly in April, to 8.9%, down from 9.9% in March, according to the Office for National Statistics. Key takeaways from the data are:

  • UK average house prices increased by 8.9% over the year to April 2021, down from 9.9% in March 2021.
  • Average house prices increased over the year in England to £268,000 (8.9%), in Wales to £185,000 (15.6%), in Scotland to £161,000 (6.3%) and in Northern Ireland to £149,000 (6.0%).
  • London continues to be the region with the lowest annual growth (3.3%) for the fifth consecutive month.

A selection of views from Newspage property and mortgage experts on today's data are listed below.

3 responses from the Newspage community

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Ross Boyd
CEO at Dashly.com
"The property market went gangbusters in April and, even now, there's no sign of a slowdown in London and the South East. "Even though the Stamp Duty holiday rush has now subsided, people are still as keen as mustard to move after reassessing their quality of life and what they want from a home and its surroundings. "Despite the delayed Freedom Day and the end of the Stamp Duty holiday, it's unlikely prices will fall even if transaction levels drop off. This is a buoyant market, make no mistake, and will remain so for the remainder of the year."
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Danny Roberts
Partner & Practice Manager at DFA Law LLP
"The number of residential conveyancing instructions in April was exceptionally high as people rushed to beat the Stamp Duty deadline. "With further delays to the lockdown easing announced this week, and foreign travel looking ever more difficult, more people than usual will use their time to move house during the summer months. "House prices are at record highs right now and with demand strong, and supply so weak, this trend looks set to continue in the short term at least."
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Robert Payne
Director at Langley House Mortgages
"A whirlwind of demand has swept through the country as buyers battle it out in bidding wars for any properties that come onto the market. In April, and subsequently, we've seen some of the highest activity levels in the market in decades, but there are now signs of this slowing down, or at least the type of activity changing. "Since April we have seen a shift in enquiries from frantic home movers trying to benefit from the Stamp Duty holiday to more laid back first-time buyers waiting for the ideal property to come onto the market. Properties priced at up to £300,000 will be in as much demand as ever due to continued Government support schemes, but I predict higher value properties will revert back to more normal enquiry levels, which will see price growth plateau."