What to Watch - November 2021

This paper brings together a selection of economic and residential market data that can be used to assess how the housing market is performing.

Key points in this month's report:

 

  • The housing market performance remains strong and most indicators have improved since our last report
  • Demand remains robust with approvals and new buyer enquiries holding firm
  • House prices continue to grow at pace
  • Sales volumes surged in September which partly reflects the end of the stamp duty holiday
  • Mortgage approvals remain 9% above pre-pandemic levels pointing to robust demand for the rest of 2021 and into the new year
  • Uncertainties remain around wider economic indicators such as unemployment