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Marc von Grundherr, director of lettings and estate agent Benham and Reeves, commented:

“So far the impact of our time in lockdown appears to equate to nothing more than a scuffed knee for the UK housing market, with these marginal declines in price growth far from the compound fractures that many were predicting.

Of course, there will be a number of conflicting data sets as the months go on and the real proof will be in cold hard completion numbers and the prices achieved at this point in the transaction.

However, an initial toe-dip of market health due to the impact of the pandemic is suggesting the water is far warmer than first thought and we expect to see the majority of those looking to transact jump back in the pool as restrictions continue to ease.” 

James Forrester, managing director of estate agent, Barrows and Forrester, commented:

“There’s no doubting the speed at which the property industry rallied once its doors were reopened has helped prevent any critical decline in house price growth, enabling many buyers and sellers to transact in an otherwise tricky landscape and ensuring some level of activity.

As a result, while house prices have seen some volatility in the short term, this reduction has equated to more of a short, sharp removal of a plaster, rather an extensive course of physiotherapy.”

Stephen Moss, managing director of Sourced Capital, commented:

“We’re now entering a period of ‘index instability’ in the sense that cold, hard data on any pandemic impact isn’t really available, so there will be a few different tunes being played around the health of the market in the months to come.

A combination of scant data used to analyse house price numbers and a plethora of different methodologies across the various publications means that we will see confusion reign for a while as things settle.

The upshot? We know there has been a significant revival in market activity and we are yet to see a market crash, with one now looking very unlikely.”