		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p>The cost of a house in the UK rose by a little over £3,000 (€3,300) in August as the property market hit new highs.<br />
House-buyers have shrugged off continued uncertainty in the economy and social distancing to send the average price of a home to £224,123.</p>
<p><!--Ads1--></p>
<p>The 2% rise in August of £3,188 wiped out the losses made earlier this year as the pandemic tore through the country, according to data from building society Nationwide.</p>
<p>It is also the highest rise in a single month since February 2004, when prices jumped 2.7%.<br />
“The bounce-back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions,” said Nationwide chief economist Robert Gardner.</p>
<p>“This rebound reflects a number of factors. Pent-up demand is coming through, where decisions taken to move before lockdown are progressing.<br />
“Behavioural shifts may also be boosting activity, as people reassess their housing needs and preferences as a result of life in lockdown.</p>
<p>“Our own research, conducted in May, indicated that around 15% of people surveyed were considering moving as a result of lockdown.”<br />
However, Mr Gardner warned that a massive rise in the UK&#8217;s unemployment, which is forecast by most experts, would probably send the housing market back into a slump.</p>
<blockquote><p>£224,123 Average price of a UK home in August<br />
 Nationwide</p></blockquote>
<p>Chris Sykes, at mortgage broker Private Finance, said that as UK government&#8217;s protections for renters come to an end, more properties could start hitting the market.</p>
<p><!--Ads2--></p>
<p>“The ending of the Government’s eviction ban in September could lead to a surge in landlords trying to remove tenants from properties,” he said.<br />
“This may cause a great deal of negative publicity, possibly suppressing appetite for new buy-to-let purchases.</p>
<p>“Landlords may even sell some of their properties to avoid potential difficulties moving forward.”</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ed9d91cc3a8">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ed9d91cc3a8',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
