UK Housing Market Booming, Economy Set for Rapid Bounce Back

The UK housing market saw record high of 183,000 transactions in March, with the average house price rising to £242,832 and the market seeing a complete revival after the steep decline during the first lockdown. Economic growth, meanwhile, is also now accelerating to near-record highs, with growth now forecast at 7.2% – up from the 5.1% predicted back in December. National incomes are also expected to return to pre-pandemic levels by next spring. The sun is out and the sky is blue…

7.2% growth would put the UK ahead of all but China and India in terms of recovery, with the US expecting 6.9%, and the EU on 4.3%. Reacting to the figures, the Chancellor Rishi Sunak said:

“Our plan for jobs is working. It’s great to see some early signs that the UK is bouncing back from the pandemic but with debt at nearly 100 percent of GDP we must also ensure public finances remain on a sure footing.”

Things are looking promising, though this is all before furlough ends and tax hikes kick in…

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mdi-account-multiple-outline Rishi Sunak
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