Home Sales Eclipse Pre-lockdown Levels To Give Peer-to-Peer Lending Market Reasons To Be Positive
The property market is kicking on and there are signs to suggest the eagerly anticipated rebound is now unfolding…
Back in May we wrote an article which highlighted reasons to feel positive about the housing market and p2p lending post-COVID-19, among them was the notion of a strong rebound.
We have endured many weeks of inactivity but there are now signs of positive momentum materialising within the UK property market.
As lockdown restrictions are easing we can now see evidence of the housing market returning, albeit slowly, to normality.
Since blowing away their proverbial cobwebs back in May, construction sites are now ramping up their output to regain as close to pre-lockdown levels as they can.
According to Savills, overall construction capacity within the property market in England has reached c.65%, this is a monumental improvement on the dire state of play we saw back in April, and now that the Scottish housing market has reopened, it’s likely we can expect another potential boost in productivity arriving shortly.
Savills also noted that in the second week of June, new build sales were 17% higher than the previous year for the same period which could mark the beginning of a much anticipated bounce back within this sector.
Northern cities in particular are showing signs of the strongest rebound with Manchester, Leeds and Sheffield outstripping the rest of the UK for completed sales. This is all yielding much optimism for Northern-based peer-to-peer lending.
There also seems to be a shift in demand for those seeking new homes since lockdown. A recent RICS survey showed that over 80% of surveyors now believe that house buyers are leaning toward open spaces and homes with a garden and away from tall tower blocks and congested city living.
So as the government continues to ease restrictions there are many encouraging signs emerging to suggest we are at the onset of a strong rebound after countless weeks of prolonged inertia within the market.
Furthermore, as Northern cities are proving to be most buoyant, investors in North West peer-to-peer property can be reassured that there is light flickering at the end of the dark tunnel of COVID-19.