Housing Market During Lockdown
During April to June, property sales were at their lowest in record. This was due to the impact of coronavirus temporarily pausing the housing market chain. This so-called “frozen market” meant that house viewings were impossible and moves were cancelled or postponed. It was only mid-way through May that things were able to pick up again. In April, experts predicted a 38% drop in UK house sales for 2020 yet only a 3% reduction in housing prices. They also suggested that the lost sales of 2020 would be carried over to 2021 with 50% not recuperated.
By Lara Dolden, please read the full article on TechRound.