Paul Stockwell, Chief Commercial Officer at Gatehouse Bank, comments on August 2021's UK House Price Index data
“Continued home buyer demand saw prices rebound in August after a slump the previous month.
“Buyers will have been driven to capitalise on the final stamp duty savings which were available until the end of September.
“However, it is the desire for homes in locations which were once viewed as not accessible before working from home that continue to push up prices. At the same time, stock levels have yet to bounce back enough to tame much of this demand.
“Home-movers have been largely behind the demand seen over the past year, but they are being joined by growing numbers of first-time buyers and international investors.
“The availability of mortgages requiring smaller deposits mean first-time buyers are returning, while easing of travel restrictions is drawing international investors back.”