The housing market has outperformed likely all expectations of experts during the pandemic. It was thought that the inability to leisurely inspect a possible home to buy during the lockdowns would slow down buyers. However, technology allowed hopeful buyers to take a look at their favorite choices through live streaming video with agents. Special precautions were taken when shopping a property in person. It was far from a normal way to shop around for a new place to live, but buyers made it work and kept the market busy.

The main reason for the drive to buy during the pandemic was the impact the lockdowns had on people. They were forced to spend more time at home and discovered that in a new forced upon them lifestyle they were coming up short in their current dwelling. Dream homes became the focus. 

The new dream home was far from the city centered shiny compact homes of only months before and included more space, a garden area, green spaces in the nearby area, and distance from the city lifestyle. Space was highly valued due to the new need to have plenty of it to work privately from home, allow children to study and learn, to work out and get fit, and to have a safe space to be outside.

Some sought more space to allow extended family or friends to become part of their household so future lockdowns could be spent together.

Low interest rates, government schemes, the stamp duty holiday, and the pandemic lifestyle all came together to push up demand in the housing market. Experts believe the desire to buy will remain strong throughout the year, but there are signs of a slowdown. 

The increases in the average cost of a home by Rightmove were reported in the month of April at 2.1%, in May it was 1.8%, and in June it was 0.8%. 

The nearing deadline of the stamp duty holiday on 30 June, and the lack of property listings coming onto the market could be slowing the market down. It could also be the move back toward a more normal lifestyle not encumbered by the pandemic that is showing in the market.

It will remain to be seen if the market stays busy despite the reduction of the stamp duty holiday at the end of June. There are still savings to be had with the reduction until it goes back to normal with no discount at the end of September.