DAVY VIEW

Today’s MyHome report shows asking prices bounced back during the summer, up 1.2% on the year, better than the 2.9% annual decline in Q2 2020. As we suspected, the Q2 reading of asking prices was erratic, based on a small number of vendors prepared to list their homes for sale during the highly uncertain lockdown period. Looking ahead, our forecast for a 5% fall in house prices now looks too pessimistic, but COVID-19 could have a longer, slow burn effect on the housing market, depressing pricing in 2021.