Commentary by Ruban Selvanayagam

• According to the latest UK House Price Index, average house prices saw an annual price rise of 5.4% (to October 2020);
• The latest Hometrack UK Cities House Price Index reported that Manchester saw the greatest year-on-year house price growth at 5.7%.  This was followed by Leeds (5.6%), Nottingham (5.4%), and Liverpool (5.3%);
• The most recent Royal Institute of Chartered Surveyors (RICS) report observed that activity metrics remain positive but point to an easing in momentum; near term sales expectations turn flat while the twelve-month outlook remains slightly negative and prices continue to rise sharply across most parts of the UK.