Monthly Market Briefing – Zoopla, August 2020
Zoopla has recently published its August Market Briefing detailing the current data and trends from the UK residential property market.
UK House Market Forecast – Zoopla
The staggered reopening of housing markets across countries and the added impetus from the stamp duty holiday means levels of demand and new sales are expected to remain above pre lockdown levels over the next 1-2 months.
Talk of ‘flight from cities’ is overstated – Zoopla
There has been much speculation about the long-term outlook for housing demand in cities. COVID has boosted demand outside the major cities but Zoopla believes this is more a one-off factor than a long-term ‘seismic shift’ in home buyer attitudes.
Immediate stamp duty boost for London sales – Zoopla
The stamp duty changes in England and Northern Ireland have delivered an immediate boost to sales in London. Zoopla’s data shows new sales agreed have increased by over a quarter (27%) in London where the greatest benefits of the changes
Lockdown drives a supply/demand imbalance – Zoopla
According to Zoopla’s recent reports, the lockdown and 2-month closure of the housing market has impacted the dynamics of supply and demand which influence the near-term direction of pricing.
House price growth edges higher – Zoopla
Statistics show that UK house price inflation in the 12 months to June 2020 edged higher to +2.7%, the highest level of annual growth for almost 2 years. The post election rebound boosted sales and activity over Q1 which is
Economic impacts of COVID to hit home in 2020 H2 – Zoopla
While the near-term outlook is positive, Zoopla indicates housing demand to weaken over the course of the summer as the economic impact of COVID starts to materialise, with widespread projections for increased levels of unemployment.
Housing demand starts to fall off a high base – Zoopla
New sales agreed lag increased demand which was rising over the lockdown and spiked higher as the English market reopened.
Annual growth rate to remain at 2-3% in Q3 2020 – Zoopla
Zoopla reports the annual growth rate of UK house price to remain at 2-3% in Q3 2020.
Zoopla UK House Price Index – May 2020
Zoopla releases its latest House Price Index Report for the month of May.