Returns across the price spectrum

There has been a seasonally adjusted uptick in the broad market in the last couple of months.

Recent performance has shown an unusual pattern, with stronger performance at both ends of the price spectrum. These are typified here by postcodes WC and Manchester (M), while weaker performance is found in the 3000-4000 £/m2 band, here typified by Colchester and Birmingham. Cleveland (TS) is relatively weak due to local factors probably related in part to the car industry, which repeats in Swindon.

It is difficult at the moment to discern where we are in the cycle - in part this is because the cyclical factors simply have been quite weak over the last few months.

All this will soon be overtaken by Covid-19 effects, the first of which will be a dramatic reduction in volume of transactions, and consequently a reduction in data flow