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uk housing market forecast 2020

There is a chance they could decline to record lows, worse than seen in previous housing market crashes. To find out how we use your personal information, please EY Item Club predicts UK house prices could fall around three per cent by the end of the year. 1. Physical viewings may now be permitted across the UK but with many buyers wanting to keep contact to a minimum, virtual tours, whether prerecorded or conducted in real-time via an app like Zoom or FaceTime, are here to stay.“Over the past 18 months, we’ve seen a staggering 1300% increase in our renters showing intent to virtually view or transact online, without having to physically go and view the property," said Aidan Rushby, CEO of Movebubble. LoveEverything.com Limited, a company registered in England and Wales. Head of UK Residential Research

The report examines how the UK mainstream market will fare, as well as prime London and country markets. "You will only sell your house at a marked discount when you really have to,” says Dr John Boyle, a housing economist at Rettie & Co, “when you can't afford the mortgage, lost a job, marriage breakdown, etc. That’s an improvement to its previous forecast of a five per cent drop. The Mr Woolnough, a bond manager at M&G’s, believes house prices went up significantly ahead of the downturn. Behind the Knight Frank forecasts is an assumption that the … The Covid-19 pandemic is poised to have a profound effect on everything from house prices to desirable locations and property types, and even how we house-hunt, according to market experts.Weeks-long lockdown bans on viewings and restrictions on home moves were lifted in England on 13th May, in Northern Ireland on 15th June and in Scotland on the 29th June.Meanwhile, the Welsh housing market was partially reopened on the 22nd June, allowing home moves to go ahead where a property has been unoccupied for at least 72 hours. In recent months, the COVID-19 pandemic has dramatically accelerated this shift in consumer behaviour.”Sales of Matterport 3D cameras, which are used to capture 360-degree walk-throughs, are up 630% since March and analysts have found the number of house-hunters engaging with virtual tours has mushroomed, clearly a sign of things to come. On an economic level, income growth is also expected to play a part in both house price outlook and transactions. The marketing and viewing of vacant properties is also permitted, while socially distanced valuations and inspections can be carried out too.While the latest sales numbers show an initial surge in activity, exactly how the situation will play out over the next six months is up for debate, but new forecasts from leading industry figures offer valuable insight.Here are their seven key predictions for how the housing market could fair in the rest of 2020.House prices may be increasing modestly right now, but they are likely to fall precipitously this year. UK Housing Market Forecast - 2020 Knight Frank's latest house price forecasts, outlining market trends to 2024. “We have (also) noticed a seismic shift in rental behaviour, with a readiness to adopt new ways of moving by using mobile and video technology.

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