Looking at 2020, we obviously all know about what happened at the end of March, into April and early May across the UK’s housing market. But how does the market compare to 2019? Well, when we track the market since the start of March in both years, we see that 2020 was slightly ahead in both the sales and rental market until COVID-19 hit the UK hard. But both markets are now stronger than the same weeks in 2019:
So as we can see, both the rental and sales markets dipped during lockdown, but both are now performing at higher levels than the same weeks in 2019.
- Are we still seeing pent up demand from movers who wanted to move during lockdown?
- Are we now seeing more demand for movers, especially in the sales market, due to the stamp duty changes announced a couple of weeks ago?
What it does mean is that there are a lot of home movers in the market who will be moving house in the upcoming weeks and months.