Twindig Housing Market Index (HMI)
The Twindig Housing Market Index fell by 8.3% to 64.0 last week its biggest fall since 3 April 2020 when the index was at its all-time low of 47.4. This fall came in a week when the headline housing market data (mortgage approvals and house prices) was positive. Investors appear to be looking past the headlines to the future, and they do not like what they see: Europe starting to lockdown, Wales locked down and England and Scotland grinding through the lockdown gears. Investors believe that the UK is edging ever closer a full second lockdown and whilst the UK housing market appears to be immune from COVID it will not be able to escape the impact of a full lockdown. Staying in our houses during lockdown will keep ‘us’ safe, but it will hurt the housing market.