Twindig Housing Market Index (HMI)
The Twindig Housing Market Index fell by 5.4% to 82.2 this week. This is quite a fall given the positive news on UK house prices from the Halifax this week. However, the prospect of a no-deal Brexit spooked investor confidence as did the subdued 2021 housing market expectations voiced by the Halifax and the Royal Institution of Chartered Surveyors (RICS) this week.
Within our index investor confidence fell the most with respect to lenders (down 11%) and housebuilders (down 8%).
Mergers and acquisitions speculation and positive trading updates from Foxtons and LSL kept confidence high within estate agency this week and confidence in the property portals remained strong.
Next week will see results from Purplebricks and as houses have been selling like hot cakes in recent weeks we would expect them to be reporting a purple patch.