The housing market has been surprising experts since the beginning of Brexit. No one would have thought that even in a global pandemic it would be resilient. Yet it has. It could be due to the low interest rates available from lenders and brokers. It could be the stamp duty holiday that has offered tax savings for home buyers. It could also be that the lockdowns and pandemic itself made people view their dwellings as inadequate for the new lifestyle forced upon individuals and families. The reasons are varied, and the result is a busy housing market.

The robust housing market has supported the UK economy these last unusual months while being impacted by the coronavirus. It has also sparked income for businesses related to setting up a new home. It has brought money into communities as new homeowners moved in and paid for products and services. 

There has been a slight whispering of when the housing market would cool down. After all, the average house price is higher than it has been for years and reached an all-time new high in London. 

Data released from various sources such as lenders, estate agents, and online property listers has revealed trends that could be the start of either a slow down or a ramping up for the market. A new release of data in the Zoopla House Price Index shows that buyers are not going anywhere, at least for now.

Many experts have noted that the boost being revealed is due to the Stamp Duty Holiday on the verge of reaching its deadline of 31 March. If it ends, the market could still be attractive to buyers and landlords due to low interest rates available. If the Stamp Duty Holiday is extended, as it is rumored to be, it will likely keep hopeful home buyers interested which will continue to support the housing market and thus the economy.

Meanwhile, homeowners staying put are themselves benefitting from the high demand in the market. Property values are growing. That is putting homeowners in a better position for remortgage savings. It is also making more equity available in which to turn into cash with an equity cash release remortgage.

There is also the usual spring season boost on the horizon which could or could not materialize. If it does, the stamp duty holiday is extended, and low interest rates continue to make borrowing cheap, the housing market could continue to surprise the experts and push new data boundaries in 2021.