The current resurgence in the housing market is likely to be short-lived according to the Centre for Economics and Business Research, which is forecasting a 14 per cent drop in house prices in 2021.The think tank says the housing market “defied gravity” in August, with indices like Halifax putting prices at record highs. It says these trends are “at odds with the wider economic turmoil”. The CEBR says that the stamp duty cut is one factor driving this apparent contradiction and it expects that the measure will result in a 1.2 per cent increase in prices and a 6 per cent rise in transactions. Read more on the Mortgage Strategy website.
https://www.mortgagestrategy.co.uk/news/cebr-forecasts-14-house-price-drop-in-2021/
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