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Zoopla reveals the shocking amount house prices have risen by per day in the last six months
If you’re currently saving for your first home, you might want to look away now. The latest Zoopla house price index for August 2021 revealed that house prices have risen by £44 per day in the last six months.
House prices have rocketed since the coronavirus pandemic began back in March 2020. In that time the average house price has jumped up by a staggering £17,508. If you break it down, house prices have increased by £34 per day in that time.
However, the housing market particularly took off once lockdown lifted. The latest Zoopla report revealed that since February 2021 the daily increase of house prices has varied from £64 in the South East, £63 in the South West to £24 in the North East.
Image credit: Future PLC
Average house price increase per day
On average, this means house prices have increased by £44 a day, £308 a week. To put that into perspective the average weekly shop for a family in the UK is £97 according to the ONS, making the weekly house price rise equivalent to an extra three weekly shops.
These new figures demonstrate just how much this year’s house price growth has altered the daily savings target for anyone saving up for a new home.
The Zoopla house price index revealed that the annual house price growth had increased by 6.1 per cent in August. That makes it more than double the growth rates in the last 12 months.
Image credit: Future PLC / David Giles
Despite tax breaks such as the stamp duty holiday winding down, house price growth is expected to continue to grow.
Grainne Gilmore, head of research at Zoopla said that buyer demand remains higher than typical levels for this time of year.
‘The demand coming from buyers searching for space, and making lifestyle changes after consecutive lockdowns, has further to run,’ explains Grainne Gilmore, Head of Research at Zoopla.
Image credit: J Tim / Future PLC
‘Balancing this, however, will be the ending of Government support for the economy via furlough, and more challenging economic conditions overall, which we believe will have an impact on market sentiment as we move through (the fourth quarter of this year).
‘We expect the market to remain busy compared to historical norms, and for price growth to remain in firmly positive territory at the end of the year.’
This might be grim reading if you’re saving to be a would-be homeowner. We say this with a heavy heart, but you might need to put that Aldi velvet chair order on hold to keep up.
The post Zoopla reveals the shocking amount house prices have risen by per day in the last six months appeared first on Ideal Home.
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Bold paint choices create a modern yet cosy decor in this compact apartment
Tired of their busy city life and looking for a new adventure, the owners relocated to Margate back in 2015. ‘At the time we wanted to get on the property ladder which was something we couldn’t afford to do in London’.
’We were drawn by the inspiring views, sandy beaches, and the artisan vibe of the seaside town. There is something extremely special about Margate, it has an energy you can’t help falling in love with!’
The couple initially bought a Victorian two-up, two-down which they fully renovated over the following four years. Keen to expand their property portfolio, they decided to buy an apartment as an investment. Somewhere to rent out, but that could also be enjoyed by family and friends.
Open-plan living
Image credit: Future PLC/James French
The search led to a charming, one-bedroom apartment, on the third floor of a grade II listed building, overlooking a pretty, leafy Regency square. ‘I loved the façade of the building, and the gorgeous views of the rooftops and sea from the bay window in the bedroom.
The apartment has an open-plan living and kitchen area, one double bedroom and a bathroom. Although compact the space has good proportions, with big Georgian windows that flood the rooms with light.
The period of the property and the contrast of the living room paint idea of half painted dark and light walls has created quite a decadent space.
Image credit: Future PLC/James French
As a fan of maximalist style, the interior is a skilful combination of a rich mix of colours and textures.
Passionate about vintage pieces and ethically sourced products, favourite pieces in the apartment include the two large vintage prints hanging on the chimney breast in the living room. They were found in an old outhouse in a family property in Sweden. Perfectly paired with the sisal baskets from a local artisans shop that have been hand-woven by women’s cooperatives in rural Kenya.
Bespoke kitchen
Image Credit: Future PLC/James French
The bespoke wood kitchen idea was made and fitted by a friend and local carpenter and was designed with eye level cabinets, hidden appliances and open shelving to create an interesting focal point. The raised kitchen table provides a natural divide between the living area and the kitchen.
The on-trend paint choices of dark to light continues through from the lounge to the woodwork and kitchen cabinetry, adding depth.
The bedroom
Image size: Future PLC/James French
The owners went for calmer shades in the bedroom. Here the pale green décor and light from the bay window created a completely different atmosphere. The soft grey on the top of the walls has been carried into the bedroom, creating continuity with the rest of the apartment.
A decorative wall panelling idea and a plum headboard adds character and a rich contrast to the bedroom’s pale green bedroom colour scheme.
Image credit: Future PLC/James French
‘It is so tranquil,’ says the owner of the serene bedroom space. ‘On a clear day you can see right across the ocean from the comfort of the bed. I could spend hours in there’.
The bathroom
Image credit: Future PLC/James French
The bijou, quirky bathroom has been cleverly designed with a raised walk-in shower idea. A separate sink area and zoned lighting making the most of the small, windowless space.’This must be the place’ is spelt out in the floor tiles, to add a quirky touch.
This stylish apartment proves no matter how compact your space you can still go big with creative ideas.
The post Bold paint choices create a modern yet cosy decor in this compact apartment appeared first on Ideal Home.
Reading time: 3 min
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