Covid19 Effects on the Market

  • Many data releases on the housing market are still representing time before the impact of the Coronavirus epidemic. The impact of Covid-19 will filter through to housing market statistics from mid-April.

  • Demand: Hometrack report demand down 40% in the week to 22nd March after mortgage approvals had hit a new high in February. RICS and Rightmove will offer insight into March in their releases mid-April.

  • Sales: limited evidence to suggest high levels of fall-throughs, rather many on hold. Mortgage lenders offering three-month extensions. Volumes likely to be most affected in April, May and June.

  • Prices: likely to be little immediate price movement. Longer term this will depend on the length of the epidemic and the success of government intervention measures for the economy.