Will There Be a ‘Boris Bounce’ For the Letchworth Property Market?

The Halifax announced in early January that there was a Boris Bounce in the national property market as they stated national property values soared 1.7% in December 2019 – the biggest rise since the 1.9% month on month rise in February 2007 (a few months before the Global Financial Crisis aka the Credit Crunch). Get the flags out – all hail Boris as the Conservatives gain their landslide general election triumph – the Boris Bounce is here … or is it? The Halifax (as well as the Land Registry and other house price indexes) use data of property that has sold and completed (completion being when monies and keys of homes sold are transferred). The Halifax data was based on properties that completed in December 2019, and as anyone who has sold or bought a Letchworth property in the last 10 years knows, the time it takes from agreeing a buying price to handing over the money is many weeks.

read more Will There Be a ‘Boris Bounce’ For the Letchworth Property Market?