This is certainly the view of Azeem Salemohamed, the MD of Sandra Davidson, who has been interrogating November’s property stats for his patch alongside the political and economic trends which could impact on the housing market in 2021.
Says Azeem: “Christmas used to be a time when everything slowed down. What we’ve noticed is the housing market is now open 365 days a year. With all the virtual tools that are available, there is actually a spike in property views on Christmas Day and days that follow. This means it’s a good time to get your property seen; to give it maximum exposure.”
There’s another reason to think seriously about instructing an estate agent this December. If you want to move house in 2021, now is a good time to sell, putting you in a better position to buy in the spring when the market could be less stable.
“Analysis from Zoopla for November shows a spike in prices right now, but this could be the effect of the stamp duty holiday, with people willing to offer more for a property because they are saving money in tax,” says Azeem.
“March will mean the end stamp duty holiday and the furlough scheme. There will be fewer people in employment. Plus, there’s the issue of Brexit – if the majority of EU imports are suddenly more expensive, prices will go up and demand for homes may drop.
“Banks are also being a lot more thorough in their checks on applicants and are more cautious about who they lend to.
Buying and selling at the same time?
Here are 10 things that could go wrong, and often do go wrong, and what, if anything, you can do to avoid them.
Buying and selling at the same time?
Here are 10 things that could go wrong, and often do go wrong, and what, if anything, you can do to avoid them.
“Plus, the current stay on bailiff action is likely to end in the new year, leading to a surge in properties entering the market, which could mean supply exceeding demand.”
If this all sounds a bit doom and gloom, it needn’t be. Whatever happens, there will always be people looking to buy and sell – the trick is tapping into that market. For that, you need an agent who understands the market and can give your property maximum exposure, while helping you identify the buyer most likely to proceed.
Says Azeem, “While we don’t know what’s going to happen in 2021, there’s room for optimism. We have a vaccine with the promise of a world getting back to normal. In the local housing market, the buyers are still out there. My advice is instruct us now to help make your New Year as prosperous as possible.”
Newly appointed Prime Minister Andy Burnham delivered his first speech in the House of Commons since taking up the position, and he
The Bank of England’s latest Money and Credit report has revealed that net borrowing of mortgage debt by individuals increased to £7.7
According to the Lloyds house price index, UK house prices grew in June for the first time since the start of the
