Market still performs after Stamp Duty savings end….
The remaining window of the stamp duty holiday shut at the end of September. The last week of that month saw us rushing through a number of sales so our buyers could save £2,500. We thought that after the stamp duty holiday ended, we might be in a for a little lull before the market picked up again. But activity has still continued strongly, especially the demand for family houses with gardens. Flats are unfortunately proving a bit stickier, especially ones with no outside space. Some of our houses are selling without any advertising or appearing on websites, and most Saturdays we have open days at specific houses with numerous appointments and that often ends up with competing bids. Some houses sell without any actual physical viewing by the buyer, classically if they’re not in the UK. But in any case, nearly all our advertised properties have video tours or 360 degree tours, – or both, – so anyone can get a very good idea of the property without actually going there. We also talk to buyers direct from the property via Facetime or WhatsApp.
So the market for houses hasn’t cooled down as some ‘experts’ thought it might. Many people out there are still reassessing their lives in general, still learning about the likely arrangements of their working lives will work out, and considering what the pandemic and lockdowns have taught them about being nearer family and support networks. We don’t think this momentum will disperse quickly. We also feel that sales and prices of flats will soon begin to ‘catch up’ if the gap grows too wide from the price of houses.