Twindig Housing Market Index (HMI) - 1 May 21
As the Nationwide House Price Index reached a record high this week, the Twindig Housing Market Index rose by 1.5% to 94.0 its highest level since 21 February 2020. As house prices continue to ascend there has been much talk of overheating housing markets. It is easy to see why we are still in the middle of a global pandemic that requires a successful global rather than just a successful local solution. However, those at the cutting edge (housebuilders and estate agents) reported this week that the housing market is travelling with pace and that there is plenty of fuel left in the tank. These were more than just words growth strategies were announced and more land is being purchased. This was also the week that Barclays boss Jes Staley announced that he believes that the UK is about to see its biggest economic boom since 1948. They say that history repeats itself and if this is true we could see the second coming of the roaring 20s (the 2020s rather than the 1920s). Time will tell if we should be putting our glad rags on, but perhaps we should at least be taking them out of the wardrobe.