Twindig Housing Market Index (HMI) 9 April 22
In the week that:
The Equity Release Council revealed that housing wealth in the UK increased by more than £1m per minute last year (surely lottery-style winnings but with better odds?), and the Halifax House Price Index reached 'another' high the Twindig Housing Market nudged down by the smallest of margins from 79.6 to 79.5.
It seems that the only way for the UK housing market at the moment is up. National estate agency chain Belvoir is certainly making hay whilst the sun shines delivering its 25th consecutive year of profit growth, very impressive when you think it has grown through the Global Financial Crisis, Brexit and the COVID pandemic.
The Halifax house price index this week followed on from Nationwide's the week before reporting that UK house prices are still rising and rising at quite a pace stock shortages continue to underpin prices and it seems that the race for space is a marathon, not a sprint. House prices, on average, are up £44,000 since the first lockdown and grew by 1.4% in March, their highest rate for six months.
For those interested in the property portal wars this week that challenger Boomin portal started to reveal which of its customers had transitioned from the free model to the paying model. A bold, but perhaps necessary move to have one universal cut off date for a free trial. The question on everybody's lips was would agents pay or was Boomin busted? How many of the 8,000 or so agents trialling the portal would see enough value in it to start paying to remain on the platform? You can read our initial thoughts in our post below