The housing market is set to record its highest level of sales this year since 2007, according to a property website.
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.
The impact of the pandemic on the housing market has further to run but at a less frenetic paceRichard Donnell, Zoopla
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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“The impact of the pandemic on the housing market has further to run but at a less frenetic pace.
“We expect the momentum in the market to outweigh some emerging headwinds from higher living costs and the risk of higher mortgage rates.
“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.”
Source: Shropshire Star
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