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THREE SIGNS WE ARE ON THE ROAD TO RECOVERY

Three signs we are on the road to recovery
  • Transactions have increased, mortgage approvals are up and house price growth looks strong. With the stamp duty holiday creating increased demand, we expect this positive trend to continue.
  • Nationwide house price index showed an annual increase of 1.5% in July. This follows some cautious June figures, -0.1% annual increase.
  • 40,010 mortgages were approved in June. That’s 331% more than May, the lowest ever recorded, 9,273, but we are not back to normal yet as June approvals were -39.4% below last year.
  • HMRC estimate 63,250 transactions to have completed in June, a 31.7% increase since May. There is still some way to go – sales remain -35.9% lower than June 2019. Source: Dataloft, HMRC, Bank of England, Nationwide

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