February signals the calm before the statistical storm this year, with lockdown announcements in mid-March 2020 significantly impacting all of our key market indicators last year. That said, the first two months of 2020 were far from normal either, as a post-election bounce caused a surge in activity.
This makes the performance seen in February this year even more impressive. Both sales and under offers exceeded 2020 levels last month, while prices were just 1% lower than a year ago. With a clear roadmap now in place to get the nation out of lockdown, the lettings market is picking up pace too.
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