Residential Market Review March 2021

Residential Market Review March 2021

12 March 2021
Residential Market Review March 2021 Demand Still At Record Levels

Following the timeline being announced for the easing of the lockdown and the extension of the stamp duty holiday until the end of June 2021 for properties up to £500,000 and then the tapering of relief up to £250,000 till the end of September 2021, added with the 95% mortgage guarantee scheme the government is putting in place - the demand for property has never been higher.

The traditional sales market usually runs at a slight balance either in favour of the purchaser or our client, the seller, causing prices to either lower where there are more properties than buyers in the market, or to rise where there are less properties and buyer demand is higher. 

Rarely is the market in the middle, where prices are flat. We are most certainly in a seller’s market with current buyers outnumbering properties coming to the market tenfold.

We have previously reported that enquiries have hit record levels, both digitally online through our own website http://www.goadsby.com and the property portals that we advertise on and physically with more people registering at our high street branches and attending viewings. This is understandable as during the three national lockdowns over the past 12  months, people have been spending more time browsing online, however we are starting to experience an increase in sellers requesting market appraisals, which is an encouraging sign as this is the first indication that people are looking to move, or at least investigating whether it is possible.

The same can be said for Landlords, whether they are looking to change managing agents or perhaps instruct one after managing their properties themselves and simply cannot keep up with legislation changing so frequently.

These signs will benefit buyers and tenants alike. So what can you do to get ahead of the game?

Well we would obviously advise you to visit one of our branches or get in contact at the earliest opportunity so that we can start advising you of potential properties as and when they come to the market. In fact you may want to create a ‘my goadsby’ account which will then allow you to draw your search area and mark your specific requirements, as well as provide you with automatic email updates when your ideal property hits the market.

It would also be worth following our social media accounts on both Facebook and Instagram as we regularly post advice on selling and buying as well as handy ideas for when the move takes place. We have over 23,000 followers on these platforms and this is growing on a weekly basis.
  
If you are yet to market your own home, start the wheels in motion now! Check out our free instant online valuation tool here https://goadsby.com/online-valuation/ if you’re not quite ready, alternatively arrange for one of our experts to visit you in person to provide a more accurate appraisal. This can also be requested via the link above.

Most sources that provide housing market forecasts, whether they are financial institutions, property data analysts or large Estate Agents with masses of data that will identify trends and demand are all suggesting that the demand will continue for some time with price rises forecast over the next few years. With continuing low interest rates enticing people to borrow and savers not gaining any meaningful interest what is a better bet at the moment that putting your money into Property?

Categories:

Residential Sales

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Jim Doerr

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