Here are the top 10 most viewed Sheffield properties on Zoopla in recent months
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Prices are now around 13% higher than when the pandemic began and in Sheffield some homes are selling for £30,000 above the asking price.
The bounce back last month surprised experts who thought that the tapering of stamp duty relief in England at the end of June would take some of the heat out of the market.
But the monthly price increase in the Nationwide House Price Index was 2.1%, the second largest monthly gain in 15 years after the 2.3% monthly rise in April.
Analysts say the strength may reflect strong demand from those buying a property priced between £125,000 and £250,000 who are looking to take advantage of the stamp duty holiday which lasts until the end of September.
But the maximum savings are lower – £2,500 compared to £15,000 on a property valued at £500,000 before the stamp duty holiday began to wind down.
Sheffield agents all say lack of supply is a factor in the city’s booming market.
Zoopla’s top 10 includes a variety of properties, with semi-detached and end terraces all proving popular. Two, three and four bedroom homes all feature as does a bungalow and town house.
Experts now predict demand will remain high although longer term is more difficult to predict.
Robert Gardner, Nationwide’s chief economist, said: “Underlying demand is likely to remain solid in the near term. Consumer confidence has rebounded in recent months while borrowing costs remain low.
“This, combined with the lack of supply on the market, suggests continued support for house prices.
“But, as we look towards the end of the year, the outlook is harder to foresee.
“Activity will almost inevitably soften for a period after the stamp duty holiday expires at the end of September, given the incentive for people to bring forward their purchases to avoid the additional tax.
“Moreover, underlying demand is likely to soften around the turn of the year if unemployment rises, as most analysts expect, when government support schemes wind down.
“But even this is far from assured. The labour market has remained remarkably resilient to date and, even if it does weaken, there is scope for shifts in housing preferences as a result of the pandemic to continue to support activity for some time yet.”
He added the analysis suggested energy efficiency has only a modest influence on house prices for owner occupiers, where an impact is only really evident for the best and worst energy efficiency ratings.
So a more energy-efficient property – rated A or B - attracts a modest premium of 1.7% compared to a similar property rated D – the most commonly occurring rating.
Mr Gardner said: “The value that people attach to energy efficiency is likely to change over time, especially if the Government takes measures to incentivise greater energy efficiency.”
Here are Zoopla’s top 10 most viewed properties for August.
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