UK House Sales Will Collapse In 2020

House sales in the UK will collapse this year as the coronavirus pandemic puts the property market into deep freeze. But prices will fall by only 3% and will rebound next year, according to global consultancy Knight Frank. In the first reassessment of the property market by one of the major forecasters, Knight Frank said the number of house sales in the UK would plummet from 1,175,000 last year to just 734,000 this year. Many of the “lost” sales will not be carried forward to next year, spelling disaster for estate agents and other firms in the property chain. Read more on the Guardian website.

https://www.theguardian.com/business/2020/apr/06/house-prices-will-not-fall-far-despite-lockdown-says-study