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Property price grew fastest since 2007. Why and Where?

One important factor in the fight against COVID-19 is to have the population to be vaccinated. In the UK, 59 million doses had been given of which over 37 million are first dose. This means 70 percent of the population aged 18 and above has been vaccinated with at least one dose and 40 percent with two doses. Source here. This is important and this is why UK has ‘reopened.’

Article in channelnewsasia.com here. Briefly, people could eat in restaurants, drink inside a pub, go to a museum, hug friends and visit one another’s homes. A ban on overseas holidays are being lifted and travel is now possible to a short list of countries with low infection rates. There are worries about a new strain of COVID-19 but at the moment, it’s being monitored closely.

Anyway, the house prices across the UK also grew the fastest pace in March 2021 and this is fastest since shortly before the financial crisis hit in 2007. Article in theguardian.com Average UK house price climbed 10.2% in March year on year and this is up from 9.2% in February. This is the highest annual growth rate the UK has seen since August 2007, said the Office for National Statistics. The reasons stated including buyers rushing to take advantage of the government’s stamp duty holiday which has been extended to end of June.

Annual price growth was highest in Wales and Scotland. Average values increased over the year in England to £275,000 (10.2%), in Wales to £185,000 (11%), in Scotland to £167,000 (10.6%) and in Northern Ireland to £149,000 (6%). London’s price is only growing at 3.7% and this suggested that people were moving out of the capital city. However average price remained the most expensive at £500,000 in March. Article in theguardian.com

Vaccination is a must. Have you registered?

My vaccination session is tomorrow (22nd May) at 9am. This is doing my part in the fight against COVID-19. If we do not vaccinate fast enough, the infections will be faster. That will be a long way to recovery. The latest batch of AstraZeneca vaccines have arrived and the seniors could now also register for it starting from 23rd May. After that, it will be opened to everyone from 27th onwards. This is the website to register. https://www.vaksincovid.gov.my/ Please do the right thing yeah. Just need to remember that the UK is major user of AstraZeneca.

Registration is still extremely low.

Latest number as follows. Some states are unbelievably low.

Without sufficient vaccinations, the number of cases would continue to increase and soon the economy will suffer as a total lockdown may be needed again.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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