Housepresso 15 August 21
All you need to know about the housing market this week in one quick hit
RICS Survey Three down, one up
Following the first step down in the Stamp Duty Holiday benefit, it is of no huge surprise that housing market activity in July was lower than that seen in June as homebuyers rushed to complete their house purchases before the 30 June to take advantage of the £500,000 Stamp Duty Holiday limit before it reduced to £250,000 on 1 July. Three of the key housing market indicators were down last month and one up, but which camp were house prices in?
Help to Buy continues to help
Help to Buy is helping. The 15,341 households helped in Q1 2021 takes the total helped to 328,506. During Q1 2021 the total value of equity loans was £1,158 million supporting the purchase of more than £5bn worth of residential property.
Bellway firm foundations for the future
Further evidence from Bellway this week that the housing market recovery is built on firm foundations. Sales rates in FY2021 were ahead of FY2020 and, more importantly, ahead of FY2019. Forward sales are at record levels, and Bellway has added a record number of plots to the landbank. Bellway had a strong financial year last year; it is having a strong financial year this year and it is looking very likely that next year will be even stronger.
Twindig Housing Market Index
The Twindig Housing Market Index nudged up by just 0.1% this week, its smallest increase since 22 May 2020. It was a quiet week for housing market news, but was it the week where Purplebricks was disrupted by the very market it is trying to disrupt?