Twindig Housing Market Index (HMI) - 12 June 21
The Twindig Housing Market Index (HMI) fell by 1.0% this week as confidence waned slightly in estate agents following the RICS report, which spoke of shortages of homes for sale, implying that estate agents revenues may not be as high as some investors had anticipated. However, overall investor confidence in the housing market remains at pre-pandemic levels and has been on an upward trajectory since the start of February this year. This week the Halifax reported that house prices reached a record high, the Bank of England reported that mortgages rates were falling and UK Finance reported that following around nine years of uninterrupted house price growth, half of all mortgaged homeowners have at least 50% equity in their home and a further third have between 25 and 50%. For those lucky enough to be on the housing ladder the views from it are rosy and should the sun stop shining on the UK housing market, many have plenty of equity with which to weather any future storms.