Despite transactions remaining 25.7% lower then July of 2019, they are 14.5% higher than June 2020 according to HMRC. https://www.financialreporter.co.uk/finance-news/property-transactions-recover-further-in-july-hmrc.html
“Almost half (46%) of over 50s who are planning on moving abroad when they retire are reconsidering where they might retire to due to Brexit, with a further 44% claiming the uncertainty is making them reconsider their plans altogether. When it comes to Covid-19 concerns, these figures are 39% and 37% respectively.” https://www.financialreporter.co.uk/later-life/brexit-concerns-outweigh-covid-19-for-those-looking-to-retire-abroad.html
"Prospective buyers are now seeking outdoor space, larger kitchens and energy efficiency, according to new research." https://www.mortgagestrategy.co.uk/news/life-in-lockdown-sees-shift-in-buyers-priorities/
However, 43% say they would do the same to someone else if it meant successfully acquiring a property. https://www.propertyreporter.co.uk/property/almost-a-third-of-uk-homeowners-say-they-have-been-gazumped-in-the-past-decade.html
Looks like a slightly lower business levels is explained in this article. Broker produce over 70% of the mortgage business so, why are people not moving? https://www.mortgagestrategy.co.uk/broker-business-volumes-lowest-in-over-two-years-imla/
Planning to buy a home, or switch your existing mortgage? Prepare to answer a litany of questions, spend hours at the bank and endure forensic analysis of your daily spending habits. Even after jumping through all those hoops, success is not guaranteed, as there are now strict affordability rules that force lenders to ensure borrowers will be able to afford to pay their mortgage in the future. The main bulk of the current rules surrounding lending came into force in 2014 through the Mortgage Market Review, which
This is a good article. http://www.financialreporter.co.uk/finance-news/first-time-buyers-outstrip-homemovers-for-first-time-since-1995.html I have noticed that home movers are reluctant to move until they have found the perfect home. In the past they would list there property and then go find a new house. Not anymore. This makes for a shortage in the house market. Perhaps people are choosing to stay put.
The LGA, which represents local authorities in England and Wales, said that the failure to build enough homes for decades meant existing properties will have to house more people and last for much longer. This has led to the country spending nearly as much on the repair and maintenance of existing homes as it does building new ones. Cllr Judith Blake, LGA Housing spokesperson, said: “Our country’s failure to build enough homes over the past few decades is putting huge pressure on our existing housing