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Prices soared despite Covid, and though hard times and an expiring the tax break are looming, few seem to expect a crash
Recent headlines declaring a boom in the housing market look set to continue on Monday, when Halifax unveils its latest monthly price report. Its numbers have tended to run ahead of rival Nationwide’s, and may even show annual price growth nearing double figures. In October, it said prices were up 7.5% on a year earlier.
Even if the growth rate has not increased, we are a long way from anyone’s expectations for 2020. This time last year, Halifax forecast price rises of between 1% and 3%, and other lenders and estate agents were roughly in agreement. And when the housing market was locked down in the spring, it would have been a brave commentator who suggested prices would end the year up. Continue reading...