House prices forecast to rise based on transactions currently underway

The housing market looks set to brush off the cost-of-living squeeze with property prices expected to hit a new record high in May, new data shows.

Despite signs of a slowdown earlier in the year, the existing supply-demand imbalance continues to propel the market upwards with little evidence yet of the increasing cost of living impacting buying decisions.

Reallymoving analysed data from over 15,000 conveyancing quote forms to provide one of the earliest snapshots of housing market outlook – and what is actually being agreed between buyers and sellers.

Reallymoving captures the purchase price buyers have agreed to pay when they search for conveyancing quotes through the comparison site, typically 12 weeks before they complete. This enables reallymoving to provide a three – month house price forecast that historically has closely tracked the Land Registry’s Price Paid data, published retrospectively.

Read the full article on: Property Industry Eye | MARCH 22, 2022 | MARC DA SILVA