Our partnership with Brinsons & Birt brings you the latest property news and how it might affect residents.

This month, director David Lakin discusses the national house price trend.

New figures released by Nationwide Building Society looking at the UK house price trends and prices have revealed that the annual price growth has risen to 10.9% to the year ending May 2021.

Following Nationwide's research, this suggests that the new UK average house price hits a record high of £242,832, up by £23,930 over the past 12 months.

Robert Gardner, Nationwide's chief economist stated that; "May saw a further acceleration in annual house price growth to 10.9%, the highest level recorded since August 2014.

"In month-on-month terms, house prices rose by 1.8% in May, after taking account of seasonal effects, following a 2.3% rise in April.

"The market has seen a complete turnaround over the past twelve months. A year ago, activity collapsed in the wake of the first lockdown with housing transactions falling to a record low of 42,000 in April 2020.

"But activity surged towards the end of last year and into 2021, reaching a record high of 183,000 in March."

The hope across the whole of the property market is that this strength and market buoyancy carries on throughout the Summer and into Autumn 2021. With interest rates still at such a low rate and supply levels also low, demand should stay strong throughout this period.

Should you wish to discuss or receive any property advice, please do not hesitate to contact Brinsons & Birt based at 67 High St, Cowbridge on 01446 771777 or alternatively email [email protected].