We are now fully submerged in uncharted waters, and like many industries in the UK we expect a period of inactivity in the residential sector as the country hunkers down to fight COVID-19.

Yet we do expect the dip in activity to bounce back once the crisis is over. Although pricing has broadly held so far, we expect prices to soften the longer the inactivity continues.

CBRE research will continue to closely monitor the situation in the coming weeks.