DAVY VIEW

The main UK house price indices fell in January for the first time in over six months, signalling the froth in the market is subsiding ahead of the expiration of Rishi Sunak’s stamp duty holiday on March 31st. This morning’s Royal Institution of Chartered Surveyors (RICS) survey shows UK estate agents anticipating price falls over the next three months (-15%), with activity indicators seeing some of their sharpest falls on record but also depressed by COVID-19 business and travel restrictions.