What will the Housing Market look like after the Coronavirus?

During the period of the Coronavirus there has been a lot of uncertainty with many things. One of the main issues has been the Housing Market. The market have massively dropped since the beginning of the February, after It substantially increased at the beginning of the year.

Research suggests that due to the rapid and complete shutdown of the property market resulting from coronavirus lockdown could cause UK house prices to fall by as much as 10 per cent this year.

However, research also predicts that while we can expect a downfall of the the Housing Market short-term, however predictions suggest that there will be a full recovery by 2022. Additionally, there will be a cumulative rise of around 15 per cent in five years as was predicted by the end of 2019.

Prior to the Covid-19 pandemic, it was expected that the Housing Market would rise by one per cent this year. However, with the UK into it‘s sixth week of lockdown, we still are not sure when lockdown will terminate and therefore the Housing Market May continue to decrease until the end of the Year.

In the event of a longer lockdown, it is predicted that a tenth could be decreased for the average house price, additionally For the short-term Five percent could be knocked off Housing Prices.

Kilnstone Property are here to support you through this current time of uncertainty and instability. We will guide you through this time and work with you to find the best Property for you.

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Phone: 01293 278312