Heading into uncharted waters - Comment on the BoE money and credit figures for August from Richard Pike at Phoebus Software

29 September 2020

Richard Pike, Phoebus Software sales and marketing director, says “We are continuing to see that the housing market is, as the government hoped, benefitting from current incentives. There have also been reports that demand is once again outstripping supply and we are starting to see houses selling above the original asking price. As we have seen in the past this is a worrying situation that, should it continue, could put some new homeowners into a negative equity situation down the line.

“We are once again heading into uncharted waters and the health of our economy is under serious threat whilst the pandemic continues. No matter what measures the Chancellor puts in place, the bottom line is that there has to be a reckoning at some point and all these schemes will come to an end. Until such time, of course, there will be many people across the country taking advantage while they can.”