The pick-up in buyer demand since mid-May has been suprising and whether this can be sustained will largely depend on how quickly the economy recovers.
Key sales trends:
- Strong bounce back in the number of buyers entering the market since mid-May
- Shortage of properties on the market for sale has limited the number of people able to move
- Prices are recovering in many locations after falling during lockdown
- Sales of new homes fell by over one third between April and June
The lettings market however, has seen a large number of both landlords and tenants come under considerable pressure since lockdown; and again the outlook is strongly dependant on what happens in the wider economy.
Key lettings trends:
- Tenant demand fell in early lockdown but has picked up since mid-May
- The supply of rental properties has risen dramatically since April
- Rents are recovering in some locations after falling heavily in the first two months of lockdown
- Investment yields have fallen marginally
Read the full report below.
Interested in finding out more about property market trends? Register your interest for our free online seminars here.