Halifax House Prices (Nov.)

The Halifax house price index suggests that not only did the end of the stamp duty holiday fail to dent the market, but that house price growth has since accelerated to a post-financial crisis high.
Andrew Wishart Property Economist
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UK Housing Market Chart Book

London transactions outperform, but not prices

The jump in transactions during the pandemic was larger in London than other regions as the market didn’t experience the same drop in supply as elsewhere. That reflected many existing homeowners adjusting to remote working by moving further afield, giving an opportunity for first-time buyers to get on the London housing ladder. More plentiful supply has also caused house price growth in the capital to underperform the national average since the start of the pandemic. While house prices rose by 16% between Q4 2019 and November 2021 nationally, the average increase in London was 9%. Outer London boroughs tended to outperform more central areas, but Hammersmith & Fulham, Kensington & Chelsea, and Islington were striking exceptions.

25 January 2022

UK Housing Market Data Response

RICS Residential Market Survey (Dec.)

The number of homes being listed for sale dropped again in December while demand continued to climb. As a result, we think house prices will continue to rise at pace in the near term.

20 January 2022

UK Housing Market Update

The anatomy of the pandemic price boom

A breakdown of house price growth over the past two years confirms that remote working has altered the nation’s housing needs. But what households can afford, rather than what they desire, will be a more important driver of house prices over the next few years.

19 January 2022

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UK Housing Market Data Response

Nationwide House Prices (Nov.)

House prices recorded another above-consensus gain in November as strong buyer demand bid prices up further. There is little sign of that dynamic changing anytime soon, so we expect the consensus forecast for 2022 to continue to be revised up closer to our own view.

1 December 2021

UK Housing Market Data Response

Mortgage Lending (Oct.)

Mortgage approvals remained robust in October after the end of the stamp duty holiday, only easing back into line with their pre-pandemic average. With demand strong, we suspect that mortgage approvals will move back above pre-virus levels in 2022, although limited inventory could be a constraint.

29 November 2021

UK Housing Market Update

300,000 supply target remains out of reach

The most comprehensive statistics on housing supply confirmed that the pause in construction in Q2 2020 caused completions of new homes to drop back. Housebuilding activity has since recovered but materials shortages, the end of the Help to Buy Equity Loan scheme, and a cooling market suggest that the high water mark for new housing supply has already been and gone.

29 November 2021
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