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Daily Record
Daily Record
Lifestyle
Linda Howard

Zoopla predicts busy year for buying and selling houses but not for Edinburgh homeowners

This year's housing market is on course to be the busiest since 2007, according to Zoopla.

Around 1.52 million UK house sales are expected across 2021, up by 45 per cent compared with last year, the property website said.

The value of homes sold in 2021 is projected to reach £461 billion, up by 46 per cent or £145 billion.

The website said that, with average annual transactions rarely exceeding one million to 1.2 million per year over the past decade, this would mark the highest sales figures since 2007.

Some areas are bucking the trend, with properties in Edinburgh, Southampton, Gloucester and Coventry spending longer on the market, although price growth remains positive across these cities, Zoopla said.

The website said that overall, 2021 is projected to be among the 10 busiest years since 1959.

Grainne Gilmore, head of research at Zoopla, said: "Households who have the opportunity to commute less frequently have more options when it comes to choosing where to live, and this could prompt a move."

He continued: "Likewise, older households will continue to review how and where they are living, with many more set to move for the first time in years. With an increased array of mortgages to choose from, first-time buyers will also remain active in the market.

"At the same time, supply constraints will continue to underpin pricing. The lack of supply is expected to hamper potential sales during this year, yet even so, we expect total transactions this year to rise to 1.5 million, marking one of the busiest years in the UK's residential market in more than a decade."

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