UK house prices and buyer demand: the UK's response to COVID-19 – BuyAssociation

A level of confidence and optimism is beginning to return to the UK housing market. Zoopla’s latest Cities Index Report looks at how things are changing in the wake of COVID-19.

The UK property market saw a surge in activity from buyers, sellers and in the private rented sector in May. As lockdown rules began to ease and the housing market was “reopened”, much of the pent-up demand from recent months was released across the sector.

In the week after the government’s housing market announcement, buyer demand rose by 88%. While the spike also represented how low the market had fallen since March, Zoopla expects this trend to continue although at a steadier pace over time.

According to the report, the north of England saw a huge revival in demand, as did some coastal areas. This is counterbalanced by a much smaller rebound in London property demand. Zoopla’s data suggests

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