Our latest report - Indicators of Recovery, The Residential Market, brings together a selection of economic and residential market data that can be used to assess how the housing market recovery is progressing.
Key points include:
-At the start of the lockdown around 350,000 sales were put on hold and activity plummeted
-As the markets started to reopen some of this activity has returned as ‘pent-up demand’, and there has been a reported surge of activity
-However, while positive, this surge may be short lived, depending on conditions in the wider economy
-Taking all indicators into account, our view is that the residential market recovery is currently in the weak initial phase