Latest News

UK housing market remains undeterred

21 October 2020

Despite COVID-19 limitations, agents have been largely permitted to open in areas where local lockdown restrictions have been enforced, and house moves have still progressed. It seems yet again, the pandemic hasn’t been a deterrent for buyers and renters determined to make a change. Read More...

Propertymark backs NRLA calls for a Welsh Housing Survey

20 October 2020

Propertymark has joined up with the National Residential Landlords Association (NRLA) Wales in their campaign for political parties to commit to expanding the evidence base for housing by introducing a Welsh Housing Survey (WHS). Read More...

Welsh Government announce a two-week fire-break – what does it mean for agencies?

19 October 2020

Today, 19 October, First Minister Mark Drakeford announced that the Welsh Government will impose a two-week fire-break period which requires Welsh residents to stay at home from 6pm on Friday 23 October until Monday 9 November. Today's rules also apply to those traveling into Wales from other parts of the UK: you are permitted to travel into Wales to work as long as you comply with the rules. Read More...

Pandemic has not deterred the UK from making the next move

Friday 17 July 2020

Market data from Zoopla shows buyer demand is up as both customers and agents emerge from lockdown. Buyers are continuing with planned moves and the lockdown has further increased the number of people wanting to make a change.

Demand for home purchases still high

Buyer demand in June was around 46 per cent higher than in early March and 1.5 times higher than the same period in 2019. This is attributed to the opening of the English housing market on 13 May, and demand increased 41 per cent on the partial opening of the Welsh housing market on 22 June. A similar rise is expected in Scotland after its opening at the end of June and sales across the UK are also 4 per cent higher than those recorded on 1 March.

Eight in ten buyers still plan to move in the next year

A large majority – 86 per cent – of house hunters who had planned a move before March’s lockdown still intend to move within the next year despite the delays the pandemic has caused.

Elevated buyer demand is likely to be, in part, due to the influence of many weeks locked down in a current property. A new survey by the Office of National Statistics found that one in four people are planning a major life change post-pandemic. Of those people, more than a third wanted to change where they lived.

New mortgage products aim to address deposit gap

Some lenders have introduced 90 per cent Loan to Value (LTV) mortgages in an attempt to combat the decrease in available products for buyers with smaller deposits. Yorkshire Building Society brought a 90 percent LTV product forward specifically for first time buyers, and other lenders are offering a limited number of 90 per cent home loans.

The pandemic has seen a sharp decrease in available lending for buyers with a small deposit – loans for buyers with a 10 per cent deposit fell by more than a third in mind-June, and mortgage availability has halved for those with a five per cent deposit.

Propertymark resources

Propertymark has a series of consumer guides on moving during COVID-19 that agents are encouraged to share in their day-to-day work and on their own social media channels. We are also encouraging buyers and vendors to work with agents on making sure viewings and house moves are COVID-secure.

Guides

Propertymark’s own Housing Market Reports give a picture of the UK housing market and the issues that our members are experiencing. The May report can be found on the NAEA Propertymark website, which looks at the housing market in England post-lockdown.

Housing Market Report