Residential Property Review April 2020

DETERIORATING SENTIMENT AS COVID-19 IMPACTS

The Royal Institution of Chartered Surveyors recent ‘UK Residential Market Survey‘ has reported that despite the residential property market experiencing a notable pickup in momentum at the start of the year, sentiment across the market has deteriorated sharply as a result of the COVID-19 outbreak.

The survey highlights that following three consecutive monthly increases, new buyer demand came to an immediate halt in March, with a net balance of -74% of respondents across the UK reporting a fall in enquiries, and a net balance of -69% saw a decline in sales volumes. New instructions also tailed off sharply and inventory levels reached a record low of on average 40 properties per branch in March.

For full briefing click here.

Economic Review April 2020

INFLATION SET FOR FURTHER FALLS

The headline rate of inflation in the UK fell in March with economists expecting a continuation of this downward trend over the coming months.

Office for National Statistics (ONS) data showed that the Consumer Prices Index (CPI) 12-month rate – which compares prices in the current month with the same period a year earlier – dropped to 1.5% in March, down from the previous month’s figure of 1.7%. This bucked the usual seasonal pattern with prices traditionally rising between February and March; this year was only the second time in over 30 years that this measure of inflation has fallen during this period.

For full briefing click here.

Your Home Finance Spring 2020

HOUSE-HUNTERS KEEN TO MOVE, BUT SELLERS AREN’T SO SURE

What’s the mood in today’s housing market? A new ‘State of the Property Nation’ report noted growing eagerness among would-be buyers, with nervousness about the economy causing sellers to hold their fire. The subsequent COVID-19 outbreak will no doubt have an impact.

For full briefing click here.  Your Home Finance Spring 2020