Last week marked the completion of our first three months’ trading since we came out of lock-down. It has been busy to say the least, but it might be useful to put this into numbers.
Rightmove recently reported that “southern commuter towns have seen the biggest annual jump in seller numbers since the start of the stamp duty holiday, with newly marketed property doubling in some areas”. Our residential sales offices can certainly support Rightmove’s findings having seen a huge increase in activity. Undoubtedly this has been triggered by the stamp duty holiday, but in truth it is about pent up demand following Brexit and lock-down. Both enquiries from buyers, as well as new properties coming to market, are up just over 100% on the same period last year with the resulting sales arranged up 62%.
Completion times are a little slower but this is due in part to the backlog of activity because of lock-down and the increased activity now.
Lettings are flying as always. It was feared that the strong market may influence some landlords to sell and whilst this has been the case for some, it has been offset by new properties coming to market. In the same Rightmove report they claimed that “lettings demand is also up by 26% in August this year compared to 2019”.
The school summer holiday season is traditionally a time when the housing market quietens. However, we recorded our busiest month ever in July, very closely followed by August and it doesn’t seem to be showing signs of slowing as we move in to September. Zoopla’s House Price Index revealed that the housing market is performing at its strongest for five years.
If you are considering selling or letting your home there really hasn’t been a better time and we would be delighted to help you so please contact your nearest White & Sons office today.