Don’t be fooled by house price optimism

Yolande Barnes-2

Prices are being buoyed by low interest rates, quantatitive easing and state support for jobs and services. But can it last?

Last week my Twitter feed was full of news about the housing market and how well it was doing after its surprise re-opening in May. Rightmove showed asking prices were up 1.9% on the quarter, so sellers are optimistic; Zoopla and Halifax data was similarly upbeat. Transaction levels and enquiries, it is said, have bounced back to pre-covid levels. The expectations of estate agents and property ‘experts’ seemed to be that we have seen a very brief ‘V-shaped’ downturn and are back on the sunny road to robust property market activity and ever-increasing housing wealth.

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