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Surge in housing demand starts to ease

However, sales prices in England have continued to rise
Surge in housing demand starts to ease

Demand for housing has started to fall back following a surge in post-lockdown activity and is expected to decline further in the coming months, according to research from Zoopla, as supply in the market increases. 

The number of enquiries and online searching activity fell 8 per cent during the week to 17 June, although remained 46 per cent higher than levels in early March. 

New sales agreed have rebounded back to pre-lockdown levels, although there was significant regional variation, with six English cities including London, Bristol and Newcastle recording a decline in sales during the week to 14 June compared with February's average. However, that may also be due to supply-side factors, with those estate agencies reporting that available inventory per branch was also down more than a tenth in those cities, compared with pre-pandemic levels.

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