Commentary by Ruban Selvanayagam

• According to the latest UK House Price Index, average house prices saw an annual price rise of 10.0% (to May 2021)
• The latest Hometrack UK Cities House Price Index reported that Liverpool saw the greatest year-on-year house price growth at 8.9%. This was followed by Belfast (7.7%), Manchester (7.4%), and Sheffield (7.0%)
• The most recent Royal Institute of Chartered Surveyors (RICS) report observed that new instructions have fallen for a third successive month; demand and sales metrics remain positive albeit more modestly than before and house price inflation is yet to show any sign of easing at the headline level;
• “Such trends are similarly occurring over here in the US and supply is likely to drive up prices moving forward, not to mention concerns over the stock market,” comments a spokesperson from Sell House Fast Philadelphia.