Twindig Housing Market Index (HMI) - 29 May 21
The Twindig Housing Market Index rose by 3.0% this week to 95.5, its highest level since 21 February 2020 as investor confidence in the housing market was riding high ahead of the Spring bank holiday. Newsflow in the sector was muted, but perhaps no news is good news and the news we had was good -
Belvoir reporting a very active housing market both in lettings and sales in the four months to 30 April 2021. Yes, we are starting to lap easy comparatives, but the strength of the Stamp Duty Holiday assisted UK housing market is not in doubt. With house price data for May and mortgage approval data for April due next week, we expect the flow of positive news to continue.
The one distant cloud on the horizon is that some conveyancers have reported that housing transaction times have stretched out to 23 weeks implying that transactions kicking off today will miss both of the upcoming stamp duty holiday deadlines. Provided that both buyer and seller factor this into their expectations there shouldn't be trouble ahead, but often when buying a home the heart leads the head...