The 'Sold' signs across the country are striking evidence - Comment on the BoE money and credit figures for April from Richard Pike at Phoebus Software

02 June 2021

Richard Pike, Phoebus Software sales and marketing director, says “The ‘Sold’ signs across the country are striking evidence of what can only be described as a booming housing market. House prices are at their highest in seven years, but as demand increases supply is, as always, the problem. Housebuilders are desperately trying to play catch-up, following the lockdown restrictions, to meet the government’s targets for new home development. However, they now face supply issues of their own with a serious materials shortage caused by the pandemic and, of course, the Suez Canal incident. This is having a serious knock-on effect with developments stalling as a consequence.

“As ever the fluctuations in the housing market make it difficult to predict what will happen next, but it’s reasonable to expect things to continue in their current vein at least until the end of June. Then we will see how much the stamp duty holiday has driven current activity.”