Commentary by Ruban Selvanayagam
- According to the latest UK House Price Index, average house prices saw an annual price rise of 7.5% (to January 2021)
- The latest Hometrack UK Cities House Price Index reported that Manchester saw the greatest year-on-year house price growth at 6.6%. This was followed by Liverpool (6.4%), Leeds (5.4%), and Nottingham (5.3%)
- The most recent Royal Institute of Chartered Surveyors (RICS) report observed that new vendors are deterred given current restrictions, with demand metrics also slightly negative; upward pressure on house prices shows no sign of easing and near term sales expectations are moving into positive territory.