Covid 19 When will the impact appear in data

Many data releases on the housing market are still representing time before the impact of the Coronavirus epidemic. We are expecting the impact of Covid-19 will filter through to housing market statistics from mid-April onwards.

We have broken this down into 3 sections Demand, Sales & Prices which are below:

  • Demand: Hometrack report demand down 40% in the week to 22nd March after mortgage approvals had hit a new high in February. RICS and Rightmove will offer insight into March in their releases mid-April.
  • Sales: limited evidence to suggest high levels of fall-throughs, rather many on hold. Mortgage lenders offering three-month extensions. Volumes are likely to be most affected in April, May, and June.
  • Prices: likely to be little immediate price movement. Longer term this will depend on the length of the epidemic and the success of government intervention measures for the economy.