Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

The UK economy fell by 9.9% in 2020, yet property prices went up, and the market is still hot! House sales and property prices have surged amid government moves to stimulate the housing market. New data from HM Revenue and Customs (HMRC) showed UK property transactions in March hitting the highest monthly level since modern records began in 2005. The housing market has been almost immune to the Covid crisis as people rethink their lives and where they want to live. Official data also shows average UK house prices rose 8.6% in a year. HMRC figures show that there were 180,690 UK property sales recorded in March, which was more than double the number in March last year and 50% higher than February! Many people are asking if prices will fall in 2021. There are a number of factors which could prevent a fall in prices, one of them being the recent launch of a government-back 95% mortgage guarantee scheme to allow people to buy a property with just 5% down. Another factor is that when governments have pumped billio