There has been considerable focus on the stamp duty holiday and its impact on buyers, but vendors need to feel encouraged too. The demand for homes has long been greater than the supply of property, and this needs to change.
At The Good Estate Agent, we are pleased to say we have worked closely with many buyers and vendors of late. There is a sense of opportunity right now, and we are here to assist you as best we can.
We also know many bodies in the industry are highlighting improvements, and we stay in touch with what is happening around us. If you want to make an informed decision in the property market, contact us and we will talk you through the process.
Information from the Andrews property Group is as follows:
- For July 2020 to June 2020, viewings increased by 29%
- Physical viewings rose by 45% from June 2020 to July 2020
- In July 2020, there were almost 6,000 viewings
- The viewings in July 2020 amounted to around 200 a day
- In April 2020, there were around 20 viewings per day
- Offers made and accepted by vendors rose 12% on the previous month
- Instructions increased by 22% from June 2020 to July 2020
- Valuations increased by 33% in July 2020
- A total of 879 valuations were carried out in July 2020
- Only eight valuations were undertaken in April 2020
People are keen to move this summer
David Westgate is the Group Chief Executive at Andrews Property Group, and he said; “What a difference four months makes. In April viewings and instructions across the industry fell off a cliff as the country was gripped by coronavirus and the Government asked us to stay at home. But the rebound has been swift as lockdown eased and the Chancellor’s stamp duty announcement at the start of July gave the market a timely boost.”
There is a sense of cautious optimism in the property market
We appreciate there will be many households who are wary about getting too optimistic about the property market right now. It must be acknowledged there are significant financial and economic challenges to come. These will create uncertainty in the property market, and as we all know, uncertainty isn’t welcome when it comes to buying and selling homes.
However, the stamp duty holiday has provided impetus to the market, and it is likely there will be pressure placed on the Government to maintain the holiday or implement some other form of assistance.
David Westgate also said; “It won’t be all plain sailing from here, but the Government has shown how important it sees a healthy and stable property market for the general wellbeing of the overall economy. And house prices have proven to be extremely resilient in the past when faced by strong economic headwinds, which suggests the market is well placed to cope with some potentially heavy bumps in the road ahead.”
Whatever your circumstances are, or what move you would like to make next; we are here for you. The Good Estate Agent prides itself on offering the best standard of service to our clients, and we work hard to help you achieve your property goals. If you would like to arrange an appointment or get more details on how we can help you sell your home, contact us today online or by calling us on 07498539075.