Data made available just 48hrs behind real-time reveals a 30pt rise in visits to London Estate Agents versus the autumn of last year, the period prior to the last lockdown. This rise suggests warming in the capital’s residential property market as people rush to complete before the end of the stamp duty holiday on 30 June.
Official statistics released this week by the Office for National Statistics shows how, despite a small recent drop, property market has been running at its fastest pace since before the financial crisis in 2012.
Although ONS data highlights how London continues to be the region with the lowest annual house-price growth (at just 3.3%), high-frequency mobility data from Huq Industries shows how real-estate activity in the capital has bounced back at a much faster rate in recent weeks.
Huq Industries, is the leading provider of footfall, mobility, store visit and real economy data to professionals in finance, government, retail and real-estate. To identify the shifting trend and how policy is impacting real-estate across the UK, data over the last few weeks has been compared with the last unlocked period (Sept – Dec ’20).
While estate agent footfall may not be the only factor driving the UK’s residential property market, as a leading indicator it certainly lends perspective to what may lie ahead we will return to this measure at the next big milestone post June 30th.
To learn more about the data behind this article and what Huq has to offer, visit https://huq.io/.
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