5 May 2021
Find UK properties with address lookup as prices increase
The housing value in UK hit £7.56 trillion in 2020¹. These prices increased by an average of 7.3%, despite the challenging and uncertain year due to the COVID-19 pandemic.
Nationwide's April house price index² shows that prices went up 2.1% in April 2021 compared to the previous month. The average price of housing is now £238,831. Nationwide claims this is a new record high.
The north of England³, including the north-west, north-east and Yorkshire and the Humber, saw the largest annual increase in housing value since 2005, rising by £59 billion.
Since July 2020, the UK property market has been on the rise. As the government temporarily cut stamp duty and extended the deadline in England, Northern Ireland and Wales, home buyers could save thousands of pounds in tax if they move before the deadline.
The number of houses sold has risen notably since the tax cut came into place. It’s likely that this spike was caused by buyers rushing to purchase homes before the end date of 31 March 2021.
Property businesses use postcode lookup and address finder functionality on websites and apps to help home buyers locate properties they wish to purchase. With the rise of the UK housing market, finding a good area and affordable pricing is important for buyers.
Our postcode lookup and address finder solutions an be implemented on property websites. Find and validate UK addresses with our simple integrations. Get in touch to discuss your requirements.
¹ Bowles, L. (2021). 'UK housing value hits record £7.56 trillion high', Savills UK, 12 March. Available at https://www.savills.co.uk/insight-and-opinion/savills-news/311889/uk-housing-value-hits-record-%C2%A37.56-trillion-high (Accessed: 5 May 2021).
² Nationwide House Price Index, Nationwide, viewed 5 May 2021, https://www.nationwide.co.uk/about/house-price-index/headlines.
³ Isherwood, K. (2021). 'House price growth reaches decade high in north of England', Buy Association, 29 January. Available at https://www.buyassociation.co.uk/2021/01/29/house-price-growth-reaches-decade-high-in-north-of-england (Accessed: 5 May 2021).