Signs that the UK housing market in 2020 is coming back to life
Early indications from Knight Frank suggest that the UK housing market is taking “its first steps back towards normality” following the lifting of some COVID-19 restrictions in Britain.
Latest data shows residential demand at its highest level in nine weeks, confirming the boost from last Wednesday’s market re-opening.
The global real estate consultancy reported that data for the week ending May 16th recorded the “number of new prospective buyers, registering with Knight Frank, reached the highest level since the second week of March”.
Of course, activity for this time of year is considerably reduced over the normal average. However, these figures do “provide an early signal of what may follow”.
James Clarke, Head of London Sales at Knight Frank, summarised:
“Last week saw the first flicker of what we believe will be a strong surge in activity,”
“In these early days it has become clear that the market will spring back to life more forcefully than most people would have imagined only a few of weeks ago.”