The
recent revival of the housing market is beginning to fall flat as demand for
bigger properties dwindles.
An analysis by
Pantheon Macroeconomics shows that visits to the three main property websites –
Rightmove, Zoopla and On The Market – trended down this month and are currently
7% below the peak of 23 August.
The firm’s chief UK
economist, Samuel Tombs, said: “Recent gains in house prices likely will not be
sustained.”
In a separate report,
Hamptons said house price growth could come in flat next year but the forecast
assumes that a trade deal is struck with the EU and that a coronavirus vaccine
is found in the first half of next year.