Demand for coastal living has seen house prices in Britain’s seaside towns rise 10% over the year as homeowners change their lifestyle.
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Supply of properties on the market and available to buyers is an all-time low at the same time house prices are at record levels.
Strong demand for houses has driven price growth up 5.2% in the last year which is over four times more than the 1.1% growth for flats.
Fixed rate mortgages are cut to 0.99% for borrowers with large deposits looking to remortgage as competition increases from lenders.
The value of homes transacted has doubled compared to last year as demand for property hits new highs while supply is restricted.
The competitive equity release market has seen over 100 products on the market as providers launch new features to attract customers.
New properties on the market hit record asking prices up 2.1% this month as demand drives sales to the fastest ever pace.
The pandemic lockdown restricts the amount of equity released from properties in 2020 even though interest rates fall to record lows.
The average time it takes to sell a home has reduced to 44 days thanks to high demand and much faster for the top ten locations.
Excess demand over supply is the greatest for a decade and 34% higher than last year sending house prices even higher.