The housing market is on course for its busiest year since the global financial crisis as the scramble for properties continues.
More than 1.5 million homes are expected to change hands this year, a staggering 45% more than in 2020, according to our latest House Price Index.
With the number of housing sales each year rarely exceeding 1.2 million over the last decade, this would mark the highest level of housing market activity since 2007.
As well as breaking a recent record, 2021 looks set to be one of the top 10 busiest years since 1959.
House price growth has almost doubled during the past year to stand at 4.1% in April, up from 2.3% in the same month of 2020, as demand from potential buyers continues to outstrip the supply of homes on the market.
House price growth is strongest in areas where affordability is greatest. Wales leads the way at a regional level, with house prices up 6.3% year-on-year, followed by Yorkshire and the Humber at 5.4% and the north west at 5.3% respectively.
House prices in the heart of London are almost unchanged year-on-year. And a number of boroughs have actually seen price falls, reflecting the softening of buyer appetite in the capital during the peak of the pandemic.
Property values are 2.5% lower than a year ago in the City of London, while in the City of Westminster they are down 2.2%, and in Kensington and Chelsea, and Hammersmith and Fulham they have dropped by 1.7% and 1.4% respectively.