DAVY VIEW

Given that Rightmove asking price inflation is now 5% and sales volumes are estimated to be currently up 40% on last year, there’s no doubt the UK housing market rebound has beaten expectations. Rightmove highlighted that the COVID-19 restrictions had led to a surge in demand for larger homes. However, Rishi Sunak’s stamp duty holiday will also have convinced many ‘second-steppers’ to bring forward transactions. Once it expires in early 2021, the froth may subside - leaving house prices exposed.