The UK housing market amidst a global pandemic

Buyers are seeking more space following long periods of working from home Surging demand means extra 140,000 buyers in the queue to finalise their home purchase, according to data released by Zoopla Following the purchasing spike, Zoopla estimates there are currently 418,000 sales in the pipeline which are yet to complete worth £112 billion Mortgage approvals are now almost 25 per cent higher than they were in February Halifax noted house prices were 7.3 per cent higher than a year ago in September, the strongest rate of growth since June 2016

For sales, quarterly price growth returned to the prime central London property market in September for the first time since February this year. Meanwhile, for lettings, the combination of relatively high levels of supply and weaker demand has led to the largest annual falls in more than a decade. • An average monthly increase of 0.2 per cent, the same figure recorded in

February during the ‘Boris bounce’ that followed the Dec 2019 general election • Rental values continue to fall in

September, and there was an annual decline to -8.1 per cent in prime central

London • Annual decline of 6.9 per cent in prime outer London for rentals Supply has been driven higher by the addition of short-term rental properties onto the market, as well as owners opting to let rather than sell.

Mortgage approvals rose in August to their highest monthly level for nearly 13 years, according to data released by the Bank of England in September.

Exchanges in the property market outside of London reached an all-time high in the second week of October this year. The week was also the highest on record for the number of offers accepted outside the capital, underlining how momentum continues to build across the UK property market. U