Step into spring
As the arctic Easter begins to thaw and lockdown loosens, there is also positive news in the property market from your Sittingbourne Estate Agent, Quealy & Co.
The average UK house price currently stands at £232,134, which is 6% higher than in March 2020. Property transactions are 49% higher than the same time last year, reflecting a surge in sales agreed in the summer/autumn of 2020 and the mad rush to beat the original Stamp Duty holiday.
Demand spiked after the early March announcement of a Stamp Duty holiday extension in England, Wales and Northern Ireland. With demand for property up 13% and flow of new supply down 13%, we expect house prices to climb further in the coming months.
We are likely to see an increase in property for sale in the Sittingbourne area, as sellers become more comfortable with viewings and moving home as the roadmap out of lockdown continues.
Quealy & Co Estate Agents in Sittingbourne are witnessing buyers registering to find property much faster than the rate in which homes are being listed for sale in North Kent. This is particularly true of houses, rather than apartments, as people crave their own outside space and access to local green space after a year of stop-start lockdowns.
Ideal time to sell your Kent home
For homeowners considering selling their property in the next 12 months, now is certainly the time to act to ensure you can take advantage of favourable property market conditions. Vendors who have had their properties accurately valued and have been realistic on pricing should expect attractive offers and a prompt exchange with Quealy & Co.
Source: Dataloft, Nationwide, HMRC, Bank of England, Zoopla