UK Housing Market Still Thriving Despite Recession News

The news is currently full of recession led topics but surprisingly the UK housing market isn’t suffering at the moment, in fact it seems to be thriving. According to Rightmove - this summer, more property has been put on the market and more sale agreed than in any month in the previous 10 years.

When comparing the number of sales agreed against the same week in 2019, there has been a 60% increase, with 44% more properties coming to the market than the same period last year.

Pent-up buying demand is a key factor for this post-lockdown emergence, as is the increased demand for living space and gardens. 

Andy Foley Jones of MacJones said “Post Lockdown instructions across all sectors of the property market is up on this time last year. We are receiving in particular a larger than usual number of instructions for people moving from urban areas into rural areas, reflecting the societal shift that working from home has brought during Covid. People don’t want the commute. The work-life balance is more significant than ever.”