Hearts rule when it comes to moving

It is that time of year when property market predictions abound.

Given the inevitable effect of the pandemic on the economy, along with the changes brought about by Brexit, the obvious deduction would be that the property market may suffer.

Yet, the forecasts are more upbeat. Richard Donnell, Director of Research and Insight, Zoopla, says: “The housing market ended 2020 strongly with more buyers looking for a home than the same period in 2019.

“The ‘once in a lifetime reassessment of housing’ kickstarted by the pandemic has further to run in our view and this will support demand into 2021.

“While market activity is being boosted by latent demand unlocked by the pandemic, the housing market is not immune to economic forces and rising unemployment. Economic pressures are already impacting in parts of the market, reducing the volume and share of sales in less wealthy areas, for example.

“Looking ahead to 2021, we expect house price growth to reach five per cent by the middle of the first quarter and then slow to one per cent by the year end. Overall, we expect the number of completed housing transactions to match 2020 levels at 1.1m.”

What Richard is saying is that we are now allowing our hearts to rule where housing is concerned and that is because we have realised the vital importance of home and the enormous part it plays in our well-being.

Sharon Dale, Property editor

Email: sharon.dale @ypn.co.uk

Twitter: @propertywords