The housing market has had its fair share of ups and downs over the past year. And yet, from what we’ve seen so far of 2021, there are some incredible successes to take note of.
Figures from Zoopla showcase that within the first 15 weeks of this year, £149 billion worth of homes were sold.
In comparison to the same periods for 2019 and 2020, this amounted to double the value typically recorded, and meant that between January 1st and April 15th, one in every 50 properties were sold.
To put this into perspective, in an average year, it would take until the end of June to see these kinds of results.
When schools reopened six weeks ago, we began to see a rise in property listings, which suggests that as the country’s home-schooling plans came to an end, more households could focus on preparing for their next sale or purchase!
There is currently an imbalance between supply and demand, making it an ideal time to sell.
It’s worth noting that in the near term, the market for family homes – for example – will start to ease as homeowners become more comfortable with opening up their homes for viewing purposes.
Alongside this, the 95% mortgage guarantee scheme will play a prominent role in bringing in more demand from first-time buyers without having to replace supply.
Are you thinking about getting started on your property journey? Please do not hesitate to contact a member of our team today.