Twindig Housing Market Index (HMI)
The Twindig Housing Market Index rose by 7.0% to 82.2 this week, recovering more of the pandemic related falls. It is encouraging to see investor confidence in the housing market improve again. In our view there were three main drivers of the improvement this week:
Further good news on the development of COVID-19 vaccines investors has led to investors being more inclined to see through the current market challenges to a more normal market on the other side.
Land Registry data out this week confirmed that house prices and housing transactions levels continue to rise as we become more familiar with new ways of working.
Data released by HMRC highlighted that housing transactions in Q3 2020 were by more than 70% compared to Q2 2020 as the Stamp Duty Holiday saw average stamp duty bills fall from £8,160 to £5,915.