London Daily

Focus on the big picture.
Saturday, May 31, 2025

UK sees 'post-lockdown mini-boom' in housing: Rightmove study

UK sees 'post-lockdown mini-boom' in housing: Rightmove study

The United Kingdom saw the highest number of monthly housing sales agreed in more than 10 years in July, research says.

The United Kingdom saw the highest number of monthly housing sales brokered in more than 10 years in July as coronavirus restrictions were eased, according to research by online property site Rightmove.

The study, published on Monday, said a "post-lockdown mini-boom" saw sales soar 20 percent above the previous high in March 2017, with a record total value of more than 37 billion pounds ($48bn).

Rightmove said the increase was driven by an exodus from London, which saw a 2.0 percent drop in prices, and a rise almost everywhere else.

Record sales were registered in seven regions outside the capital, including Devon and Cornwall in southwest England, it said in its monthly survey.

The UK was locked down in late March as the virus took hold, forcing many people to work from home.

Rightmove said the restrictions forced many homeowners and buyers to look for a better quality of life, more space and less commuting, particularly in London.

'Additional demand'


"Rather than just a release of existing pent-up demand due to the suspension of the housing market during lockdown, there's an added layer of additional demand due to people's changed housing priorities after the experience of lockdown," said Rightmove Director Miles Shipside.

"This is also keeping up the momentum of the unexpected mini-boom, which is now going longer and faster."

The UK's housing market is also being boosted by a temporary suspension on transaction tax for properties below 500,000 pounds ($654,000) as part of a government stimulus package.

Uncertainty associated with the UK's departure from the European Union has hit the housing market in recent years, leading to homeowners and buyers postponing decisions.

Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×