Interest In Property For Sale Up 29% From Last Year
National Property Trade’s latest research has shown that online searches relating to “property for sale” have seen a 29% increase year on year. From 2018 to 2019, it rose from 5% and in the period before that from only 2%.
Signs are also pointing towards a “Boxing Day boom”. Historically, the days following Christmas have shown to be amongst Rightmove’s busiest days of the year, with people looking for a new start in the new year.
According to Rightmove, winter-time is typically thought to be the “worst time” to put your home on the market; from around the middle of October onwards, completion time is much longer than average with the property market slowing down ahead of Christmas. There are, however, a number of causes for the sudden upturn in interest.
2020 was an unpredictable year and as a result of this, the government introduced a number of breaks aimed at getting buyers onto the property ladder; both Help To Buy and Shared Ownership have all seen adjustments made for the benefit of potential buyers. It is the Stamp Duty holiday, however, that appears to have made the biggest impact. Ending on 31 March 2021, buyers will not have to pay Stamp Duty on a property up to £500,000.
With only three months left to take advantage of this, the demand that previously quietened down in the winter is very much here in abundance. With buyers now having the opportunity to save a significant amount of money, there is a rush to both sell and buy all before 31 March 2021.
Being able to complete your sale quickly is the preferred case for everyone but when the demand is as high as it is, that preference can become a necessity.
If you are lucky enough to have found your dream house, being able to hold on to it while demand is high could prove to be an uphill battle so acting fast is vital. Ensuring that you can sell your home quickly and capitalise on the Stamp Duty holiday.
National Property Trade are experts in buying homes quickly and could be the answer to your problems.
National Property Trade is now called Spring and a lot more than our name has changed. We still operate a ‘we buy any house‘ model, and with our new approach and better pricing it is easier than ever.