Will House Prices Remain Stable Despite Property Market Lockdown? [Forbes]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Forbes
The Zoopla release shows that while demand for homes dropped 70% over March and bottomed out near... [+]the beginning of April, it has slowly been on the rise in the intervening weeks.GettyAs weeks settle into months under the coronavirus lockdown in the U.K., the latest analysis from Zoopla and Hometrack suggests that the pause button has been pushed on373,000 property transactionsThere are fears and predictions that this halt could lead to a seismic fall in house prices over the coming months, but would it really be that severe? I think it is actually quite unlikely.The Zoopla release shows that while demand for homes dropped 70% over March and bottomed out near the beginning of April, it has slowly been on the rise in the intervening weeks. What I am pleased to see is that although agents have reported reduced levels of new supply, the number of residential properties up for sales sits just 4% lower than March’s early reading, suggesting that most sellers aren’t packing in their pl
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