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Ask a housing market expert anything as property prices soar during the pandemic

·2-min read
Despite economic turmoil caused by the pandemic, which has caused unemployment to rise, property prices have risen sharply (PA)
Despite economic turmoil caused by the pandemic, which has caused unemployment to rise, property prices have risen sharply (PA)

Asking prices for houses across Britain hit a record high for the third successive month during June, in the latest sign that the property market is booming.

Despite economic turmoil caused by the pandemic, which has caused hundreds of thousands of job losses, property prices have risen in every region if the country.

That may be good news for those who own their own home, and even better for landlords who have a portfolio of several properties, but it means a greater challenge for everyone else.

The situation also raises questions about how sustainable it is for property prices to rise faster than wages.

Billions of pounds of tax relief has helped to stoke up demand with a holiday on stamp, duty encouraging many buyers to make a move.

At the same time, households that have still been in work during the pandemic have spent less money, allowing them to save up for a deposit.

Experts have suggested that the latest data indicates some early signs the housing market may be cooling but much uncertainty remains.

We have an expert on hand to answer all of the many questions you may have about the housing market.

Whether it's, where might prices go next?; Is now the right time to buy?; Should you wait?; What impact might the various government schemes available have on the market, and how can first-time-buyers take advantage of them? Whatever you'd like to know about buying, selling or owning a home in the UK, our expert will do their best to answer.

Submit any questions you like about the property market and Tim Bannister, director of property data at Rightmove, will answer as many as he can

All you have to do is register to submit your question by 9am on Thursday (24 June) in the comments below.

If you’re not already a member, click “sign up” in the comments box to leave your question.

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