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The housing market is set to record its highest level of sales this year since 2007, according to a property website.
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Around 1.5 million sales will have taken place across the UK in 2021, Zoopla predicts.
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It added that housing transactions are expected to decline to 1.2 million in 2022, in line with the long-run average, but still relatively high compared to the past decade.
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The impact of the pandemic on the housing market has further to run but at a less frenetic pace
Richard Donnell, Zoopla
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Richard Donnell, from Zoopla, said: “2021 is set to be a record year for the housing market with the most moves by homeowners since 2007 and nearly £500 billion of home sales.
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Read about the UK Housing Market via our Specialist Residential & Buy to Let Division
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“The impact of the pandemic on the housing market has further to run but at a less frenetic pace.
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“We expect the momentum in the market to outweigh some emerging headwinds from higher living costs and the risk of higher mortgage rates.
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“The latest data shows a turning point in the rate of house price growth, which we expect to slow quickly with average UK house prices up 3% by the end of 2022.”
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Source: Shropshire Star
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