Record-Breaking Year for Housing Demand and Rental Stock

With all things considered, 2020 has been a positive year for the property market, breaking several record highs according to both the Office of National Statistics and the latest Halifax house price index. This data backs up what we have witnessed here at Ascend.

July saw the highest number of properties available this year, with an average of 43 properties per branch available to buy across the UK. The number of prospective buyers was also the highest it has been in the last decade, beating the previous high seen in 2015. The average sales agreed per branch across the country, a figure that is historically between seven and nine, rose to ten this year, also hitting a decade high!

Halifax house price index figures have shown that prices have risen between 1.2% and 3.8% from October to November 2020. Average property prices have also soared by 6.5%, the strongest five-monthly gain since 2004.

The amount of rental accommodation available was also the highest on record, with 203 properties managed on average per branch, up from 199 last year. With an annual high of 213 in October, this is the highest figure reported on record. There has been consistently strong demand for lets also, with new enquiries up 36% year on year.

This is great news for you, our landlords. To add to the good news, agents have reported the highest number of prospective tenants searching for homes this year. 2020’s yearly average is now the highest on record, topping 2019’s figures.