25 Mar Strongest Housing Market in a Decade
It’s hard not to acknowledge the uncertainty surrounding the economy and society at the moment. Covid-19 has really hit us all for six; but as we look to emerge from the latest lockdown restrictions it seems that there is a sunnier time ahead.
In fact, the latest statistics from the leading online portals suggest that so far, this has been the strongest spring housing market in a decade! So, if you are thinking of making your move, we are always adding to our amazing catalogue of properties for sale in Virginia Water and the surrounding areas so, visit our award-winning website or call us on 01344 843000 and email us.
Incentive to Move
We speak to hundreds of people every month about their property options, there are those who are keen to move and take a short time to make the final decision and there are those who are somewhat reluctant to do so.
Well, if you are one of the latter, you needn’t worry. According to RightMove, the number of buyers enquiring about properties is 34% higher than at the same time last year (pre-lockdown).
Demand for properties in and around our area has been consistently high for the last 12 months as people search for more space and a change in lifestyle. In fact, the demand for properties has outweighed the number of homes for sale by the biggest margin in ten years.
Since the 2021 Budget Statement at the beginning of March, we have seen increased activity in the market as those who were concerned with the cliff edge potential to the end of the Stamp Duty Holiday were spurred into action by the extension to the end of June (and until the start of October at a nil band rate of £250,000). To enhance this opportunity, there will be significant new mortgage product availability in the coming weeks with the Government backed 95% mortgage guarantee.
A Seller’s Market
So, with buyer demand outstripping the supply of homes for sale, now could be a great time to bring your home to market. So many sales have been agreed in the last 6 months as people surged to get their move completed before the original March Stamp Duty Holiday deadline, that there is now a significant shortage of homes. Fresh supply will give potential buyers more choice and pricing your property competitively could hugely benefit you in your next purchase – especially if you are relocating.
Traditionally, spring/summer is our busiest time of year. People are keen to get into their new homes to enjoy the warmer weather and before the weather turns for the winter months and Christmas. With the boosts from the Stamp Duty Holiday extension and the mortgage scheme, we are expecting to be working at full capacity – especially with the gradual lifting of the lockdown restrictions.
Get in Touch
So if you have spent the lockdowns assessing and reassessing your living situation and are ready to take the plunge, make sure you take a look at our amazing catalogue of properties for sale in Virginia Water and the surrounding areas.
If you’d like to speak to someone about properties to let in Virginia Water, a member of our expert team would be happy to help. You can call us on 01344 843000 or email us. You can also follow us on Facebook, Twitter, Instagram and LinkedIn.