Both sales and pricing activity accelerated during the second quarter of the year. Consumer confidence is improving in line with the easing of restrictions and the wider economic recovery. Borrowing costs are exceptionally low by historic standards and ongoing lender competitiveness suggests this may improve further in the coming months. Underlying demand remains at exceptionally high levels and reduced property stock has meant upward pressure on prices, particularly for larger properties in desirable areas. Whilst there are some early signals that buyer demand is beginning to moderate, the overall near-term activity is expected to be strong.
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Last modified: 12/08/2022