A number of measures indicate that the strong economic backdrop has led to a boost in housing market sentiment. However, active housing demand remains very subdued. In part that reflects a lack of homes available to buy, with stock levels close to record lows. But the shortage of homes for sale has also kept market conditions tight and house prices have come under renewed upwards pressure. Most indicators show a rise in underlying growth, and we expect house prices to rise by 6% this year.
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