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Highlights
UK house prices have reached a new record level of £360,101, as per Rightmove.
-The sale of houses is taking place at a very rapid pace, at almost double the speed in 2019.
-In 2019, the average time it took to sell a house in the UK stood at 67 days, which has now fallen to 33 days only.
The UK housing market has been booming lately. According to the recently released house price index by property website Rightmove, the UK house prices have reached a new record high level of £360,101. House prices in the UK have been hitting record-high levels for three months consecutively, and the recent figures represent the greatest three-month price rise that the house price index has ever shown.
The sale of houses is taking place at a very rapid pace, at almost double the speed in 2019. House prices have been soaring but that hasn’t led to a slowdown in the housing market.
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During the past three months, the house prices have gone up by £19,082, while the average house prices have increased by 1.6% on a monthly basis, going up by £5,537. In 2019, the average time it took to sell a house in the UK stood at 67 days, which has now fallen to 33 days only.
Due to the current demand-supply imbalance, the asking prices of houses in the UK have been skyrocketing, and thus around 53% of all the houses sold in the UK have been purchased either at their final advertised asking price or above it.
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The ongoing momentum of price hikes is even greater than the momentum that prevailed last year during the stamp-duty holiday.
Here are 3 UK housing stocks that investors may keep an eye on amid the soaring prices.
Safestore Holdings Plc (LON: SAFE)
The shares of the UK’s largest self-storage group, Safestore Holding plc, were down by 1.07% as the market opened at around 8:00 AM (GMT+1) on 25 April 2022, at GBX 1,293.00. The FTSE250-listed company has given its shareholders a return of 52.52% over the last one year as of 25 April 2022. The current market cap of the company stands at £2,755.51 million.
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Harworth Group PLC (LON: HWG)
The shares of the land and property regeneration firm, Harworth Group plc, were trading at GBX 165.00 as the market opened at around 8:00 AM (GMT+1) on 25 April 2022. The company has given its shareholders a return of 28.00% over the last one year as of 25 April 2022. The current market cap of the company stands at £532.50 million.
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Property Franchise Group plc (LON: TPFG)
The shares of the real estate properties manager, Property Franchise Group plc, were down by 0.27% as the market opened at around 8:00 AM (GMT+1) on 25 April 2022, at GBX 364.00. The AIM-listed company has given its shareholders a return of 68.37% over the last one year as of 25 April 2022. The current market cap of the company stands at £116.95 million.
Tags: House price index, Rightmove, UK house price, FTSE 250 index, Property Franchise Group, Harworth Group, Safestore Holdings plc, asking price
