Pent up demand still continues to exceeds supply in the northwest region. According to Rightmove, the average property price in the UK has surpassed 1/3 a million pounds.
Rightmove’s director of property data, stated that 2021 is the ‘year of the northern mover’.
Prospective investors are now naturally faced with increased prices for newly marketed stock in all regions except London, according to Rightmove’s latest data.
Demand for quality dwellings, with both willingness and ability to pay more, has pushed the average price tag of property coming to market to over £330,000.
Cities such as Manchester, Birmingham and Liverpool are leading the way, with some degree of catching up between average prices in London and these areas.
While the price gap remains substantially high, with average prices in London still 3 times higher than those in the Northwest, this ratio is currently at its smallest since 2013.