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London Property Market 23 June 2020

Housing Market Bounce Back

The latest sales figures released by HMRC show that the UK property market is recovering faster than many had expected with 16% more sales in May than in April. Although there are no official figures for London, Chestertons branches have seen a huge upsurge in people looking to buy since the market re-opened in mid-May.

Guy Gittins, Chestertons’ MD, comments: “Property viewings have tripled, while website enquiries, newly registered applicants and offers made on properties have all have more than doubled in the 39 days since the market re-opened compared to the 51 days of lockdown prior to the 13th May. This clearly shows confidence in property has not been shaken by the impact of the corona virus.”

“If sales continue at this rate, supported by low mortgage rates, we could see prices recover a lot quicker than many predicted.”

View current properties for sale here.