Britain Property Sales Rebound

England is seeing a rebound in house sales since the government eased coronavirus lockdown restrictions on May 13. Sales during the lockdown fell by 94%. By June 5 sales were just 3% below their level a year earlier, while over the previous three weeks they averaged two thirds of their previous level. Average asking prices for properties on the site were 1.9% higher than before the lockdown. For properties where a sale had been agreed, the accepted price was 98% of the asking price, slightly higher than in February. The figures do not cover Scotland or Wales, where coronavirus restrictions on property sales are tighter. A further clarity will emerge when shops selling non-essential goods reopen to the public. Official data last week showed the economy suffered a historic collapse during the lockdown in March and April, with activity down by a quarter on normal levels, a far bigger fall than in the financial crisis.