Twindig Housing Market Index (HMI)
The Twindig Housing Market Index fell by 1.3% to 81.1 this week, following a three-week rally. Investor confidence remains at levels not seen since March, however economic commentary from the OBR and the announcement of the new lockdown tiers caused investors to take stock of their positions. That said the subdued news from the OBR was countered by another increase in housing transactions, which points to strong underlying demand. Next week we have Bank of England mortgage approvals on Monday, Nationwide house prices on Tuesday and financial results from Berkeley Group and Countryside properties later in the week. We expect the news flow to be positive and hope that investor confidence would follow suit.