UK House Prices Update

Following the release of Hometrack's June House Price Index we wanted to share the highlights and key points to make it easier to digest. Despite the disappointing news that 124,000 sales, worth £27bn, have been lost since March due to COVID-19, things are still looking hopeful. With the resurgence of the property market, new sales agreed are 28% above pre-lockdown levels, as demand converts into...

Following the release of Hometrack’s June House Price Index we wanted to share the highlights and key points to make it easier to digest.

Despite the disappointing news that 124,000 sales, worth £27bn, have been lost since March due to COVID-19, things are still looking hopeful.

With the resurgence of the property market, new sales agreed are 28% above pre-lockdown levels, as demand converts into actual sales. Thanks to the government’s new Stamp Duty Holiday, these figures should continue to rise.

Although housing sales across the whole of 2020 are still expected to be 15% lower than 2019, this is far better than could have been anticipated in March.

Overall, the property market has bounced back exceptionally well after the market pause