Flats are back in demand

17 August 2023

Agreed residential sales are now just 3% behind the last more normal pre-pandemic market of 2019. The recovery in recent months appears to be largely driven by sales of flats, particularly in London and other major cities, as people return to office working. Across all property types, flat sales are up by around 11% when compared to March 2019. Sales agreed on flats alone in the capital are up 23%, compared to the same period in 2019. [1]

According to the latest government House Price Index, the average flat or maisonette in the UK now costs £229,752, an increase of 2.7% from the same time last year when the average price was £223,686.

[1] Rightmove, 2023

🚨 Data accurate as of the date of publication – 17.08.2023

🚨Think carefully before securing debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage.

🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.

 

Source: Quilter Financial Planning – Essentially Mortgages Q3 2023

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