UK residential property market is bouncing back, according to property website
Property website www.localsurveyorsdirect.co.uk has seen a sharp increase in activity in the UK residential housing market in the past fortnight following the slump due to the lockdown.
Since lockdown restrictions were implemented in the UK in March 2020, more than 450,000 people were unable to progress their plans to move house.
JJ Heath-Caldwell, managing director of the business, said:
“After a very buoyant start to the year, in mid-March to mid-April the number of enquiries quickly dropped by 80% with the lowest activity recorded on the 14 April.
“Since then, the activity has been steadily rising and is now around 57% down (instead of 80% down). This is still low, but we are seeing steady progress in response to some of the government’s initiatives to get the property market moving again.
“Across our sites, we have seen a strong increase in activity, which is promising after everything was closed during the lockdown period.
“My expectation is that the number of enquiries will continue to rise as we go through this year. We won’t see the levels that we saw back in January and February, but things are definitely looking up.”
Kindly shared by Property Wire