The UK’s housing market is set for a significant revival following several consecutive months of price falls.
Thanks to the easing of the lockdown and pent up demand for property across the UK, housebuilders are seeing a surge in enquiries for viewings.
Throughout the lockdown, house prices have been subdued as people have been unable to visit properties or make any long term plans. And with travel restrictions, Britain’s property market has effectively been on hold since the start of the year.
But renewed optimism is abound as developers report surging demand while house prices have only dropped by 0.2% in the past month. And given the severe economic contraction, this is cause for further optimism that the market will be on the rise in due course with demand still far outstripping supply across the UK.
While there have been significant job cuts announced in a variety of sectors, housing remains a key indicator of the overall health of the British economy. And with the government aiming to provide more liquidity and cheap loans for businesses, hiring is set to rebound within months.
Could this be the start of Britain’s great property revival?