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Property News | North West Saw HIGHEST Annual House Price Rise in 2020

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Rightmove’s house price index revealed the North-West saw the highest average change in asking prices with a 10.6% annual increase.

There’s no doubt that the property market has remained resilient even through the challenges and uncertainty that came with the COVID-19 pandemic. Not only have there been record levels of property sales and an exceptional amount of demand, house prices have also continued to rise.

The North leads the way 

Rightmove’s house price index showed that the North West saw the highest average change in asking prices with a 10.6% annual increase.

Despite the sharp asking price growth, the northern regions are still home to some of the most affordable properties. This area is expected to remain a popular choice for homebuyers and property investors.

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Housing market predictions for 2021

Tim Bannister, Rightmove’s Director of Property Data comments:

“With Rightmove’s unique leading indicators of buyer and seller behaviour, we are confident that the housing market will continue to outperform general expectations next year as it did this. Our 2021 forecast of a 4% price rise is more conservative than the unsustainable 6.6% national average seen this year”.

He went on to further state:

“It will be a busy start to 2021. The New Year is typically a time for resolutions for the year ahead, and many will see it as an opportunity to draw a line under 2020, which may well include a fresh start in a new home for those who have not already acted.”

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