The UK property market has bounced back sharply, according to estate agent Foxtons, with lettings almost at pre-crisis levels and sales well up on April and May.
Activity dropped heavily during the peak of the coronavirus crisis as estate agents shut their offices and social-distancing measures made physical viewings impossible.
But London-focused Foxtons on Tuesday said that the market had recovered quickly in June and July.
“Behind the fog of Covid there is still great appetite in the property market,” said Foxtons chief executive Nic Budden, who added that he was “cautiously optimistic” for the rest of the year, with low interest rates and the stamp duty holiday helping to sustain demand.
He believed that the market, which has been subdued since the Brexit vote, still had “significant upside in recovery”.
Foxtons reopened its offices in June and has restarted viewings, although its agents still cannot transport customers in its