Roundup: UK Housing Market 2020
UK Housing Market 2020
- The Average UK house price rose by £13,316 in 2020
- Yorkshire and The Humber had the largest increase in house prices at +6.6%
- The median price paid for residential properties in England ranged from £26,000 (within Hartlepool) to £5,300,000 (within Westminster) in the year ending June 2020.
- The number of residential property sales in England fell by 17.9% to 662,999 and in Wales fell by 19.4% to 37,719 in the year ending June 2020.
- UK average house prices increased by 5.4% over the year to October 2020, up from 4.3% in September 2020, to stand at a record high of £245,000; this is the highest annual growth rate the UK has seen since October 2016.
- Average house prices increased over the year in England to £262,000 (5.4%), Wales to £176,000 (5.8%), Scotland to £163,000 (6.0%) and Northern Ireland to £143,000 (2.4%)
Real Estate Sector Statistics
- 41.6% of real estate enterprises say their turnover has decreased due to Covid while 13.8% have reported an increase
- The median income for full-time male employees in the real estate sector is £31,490
- The median income for full-time female employees in the real estate sector is £26,735
UK Housing Statistics for 2021
- House prices in the UK are expected to fall 5% next year
- UK housing market will grow 4% in 2021
- A majority of real estate agents say that they expect weaker sales in the year ahead based on the expectation that joblessness will rise to 7.3%
- More than 100,000 additional house sales are expected during the first three months of 2021
How Many Houses Are Currently in the UK?
The most recent data from 2019 states that there are 27.8 million houses currently in the UK, which grew 0.9% from 2018 and an increase of 6.8% over the last 10 years.
Two Effective Steps for UK Estate Agency Marketing in 2021
Approximately 90% of home buyers search online before purchasing a property. And since real estate projects vary in cost, size, location and market, it is difficult to find the right audience for the right project so the first recommendation is always to…
1: Define your Audience
To stay relevant in today’s competitive estate agency market, UK agents need to develop a particular savviness for digital marketing and particularly audience identification.
Real estate marketing agencies like ours, use audience analysis tools like Sparktoro to understand who our clients’ audiences are, what they are looking for and where they are looking for it.
This proves particularly useful when conducting step 2…
2. Paid Ads Campaigns
When you have completed your audience analysis and discovered keywords and hashtags they use in their profiles and the social platforms they are most engaging on (Facebook, YouTube, Google search etc…) you can run targeted ads campaigns using the keywords discovered while using Sparktoro.
This can increase online conversions for estate agency marketing of between 2 – 5%.
Looking for a Property Marketing Agency?
Wunderbar Marketing & SEO Solutions is a dedicated real estate marketing agency that gets results from the methods shown above.
Contact us for a free website audit or simply use the form to explain the challenges you are currently facing and we will get back to you as soon as possible to discuss some potential solutions.
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