The looming 31 March stamp duty holiday deadline does not seem to have deterred sellers from putting their properties onto the market, says Business Development Manager and Valuer Chris Pick.
At Alasdair Morrison & Partners we are still taking instructions from sellers and receiving enquiries from motivated buyers, despite the fact that there is only a slim chance of them now completing before the stamp duty deadline, unless the government chooses to extend it.
This shows us that the current housing market is being driven by more than just money; people are wanting to move to the area for a wider range of lifestyle reasons, the not least of which include those brought to the fore by the pandemic: requirements for more indoor space for a home office, larger gardens and easy access to a rural area for a better work-life balance.
We are also seeing a large number of buyers who are happy to take on projects to secure their dream home, and keen sellers who are moving into rented property in order to secure the sale. This means that the market will remain active for the foreseeable future, despite the sale to completion timescale taking an average 20-22 weeks.
For January 2021 we have seen a comparable number of buyers registered with the same time last year before the pandemic, with a 35% increase in valuation requests, a 600% increase in instructions and 100% increase in sales.
If you are considering a property sale, our advice would be to do so sooner rather than later so that you can still take advantage of an undersupply of competing homes before the market really kicks in. Why not call us for an initial chat on 01636 813971 or 01636 700888?
