Since the housing
market was reopened last month, demand indicators suggest sales and lettings
transactions will increase over coming months, according to a Knight Frank
residential market update.
number of property transactions for the week ending 20 June was 48,450, a 16%
increase from April.
doubts on the long-term economic impact on the stream of demand on the market
stemming from the underlining impact of Covid-19, Knight Frank experts said.
transactions in May were 50% lower than the figure recorded 12 months ago,
according to provisional data from HMRC.
built up as a result of the lockdown but also the political turbulence and
changing tax landscape of recent years,” said Tom Bill, head of UK residential
research at Knight Frank.
“The market has picked up where it left off following December’s general
election. However, we are not yet in a position to fully assess the economic
impact of the pandemic, which means 2020 could produce a particularly uneven
pattern of activity.”