It is two years since concern last swirled around the health of the housing market. Then, estate agents were tentatively setting up socially distanced viewings after the market was allowed to reopen part-way through the first Covd lockdown. At the time, the property firm Savills reviewed its forecast and decided it still expected house prices would “fall by around 5% to 10% in the short term”.
This did not happen. The pent-up demand that had grown through lockdown was quickly stoked by stamp duty holidays across the UK. Far from falling, house prices started rising – and have not stopped since.
