Twindig Housing Market Index (HMI) - 22 May 21
The Twindig Housing Market Index fell by 0.9% this week to 92.7. In a week where Estate Agent Purplebricks, housebuilder Vistry and build to rent specialist Watkin Jones all reported very robust trading investor confidence in estate agents and housebuilders took a full step back, whilst confidence in the property portals and mortgage lenders took a small step forwards. Meanwhile, the Land Registry reported this week that house price inflation had reached double digits and HMRC that housing market activity in April 2021 was the busiest April since 2007. It could be a case of investors being wary of pride coming before a fall. However, the movements in investor confidence in the housing market were relatively minor compared to the swings in confidence in cryptocurrencies this week. Is this a case of the analogue tortoise nature of physical backed assets getting a jump on the racier digital hares?