Property sales expected to top £100bn this summ

Analysts are predicting that Britain's property buying bonanza will top a record-breaking £100bn this summer, with buyers expected to snap up 420,000 homes during this month, July and August - spending a record £107bn. That would make it the highest grossing quarter in UK residential market history. The rush to beat the end of the stamp duty holiday, higher wages, the COVID vaccine success and a stronger post-pandemic economy are fuelling the spending surge, according to JLL. Nick Whitten, head of living research at JLL, said: "Our data suggests this post-lockdown summer will set a new record... We can expect to see demand swallowing up available stock, pushing up prices." The spike in activity will be particularly evident in the north of England, which is predicted to see around 100,000 sales - around 25% of the total UK.

Sunday Express (27/06/2021)