The stamp duty holiday has helped create further demand in the rental market, and many people are looking for a home. At Frank Schippers, we are pleased to say we have assisted many local buyers in and around Crowthorne, Finchampstead, Sandhurst, Wokingham and Yateley.
If you are keen to see how the stamp duty affects you, or the local housing market, please get in touch. We are also keen to hear from local homeowners who are looking to sell their home. We can provide you with a property valuation service that provides you useful information in making your next move.
In addition to keeping in touch with the local market, we follow the latest research in the industry. There are many studies taking place of buyer behaviour in the housing market, and we will ensure you make an informed decision.
Information provided by the property group Andrews for July 2020 suggests:
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Viewings rose by 29% compared to the previous months’ viewing figures
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Physical viewings increased by 45% in comparison with the previous month
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In July 2020, there was close to 6,000 viewings, which equates to around 200 viewings per day
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In April 2020, the average was 20 viewings per day
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There was a rise of 12% with respect to offers made and accepted by vendors in July 2020
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Instructions rose by 22% in July compared to June figures
David Westgate, is the Group Chief Executive at Andrews Property Group. David 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.”
The stamp duty holiday is clearly great news for buyers, but it should be viewed as positive news for vendors too. With an increase in willing buyers across the country, vendors should feel more confident about going to market.
David also said; “Buyers and sellers alike have shown renewed vigour in the past six weeks. With a lengthy window of opportunity to purchase before the stamp holiday comes to an end, we expect buyer activity to remain buoyant over the coming months. And we saw an immediate uplift in valuations and instructions since stamp duty was frozen, with sellers keen to take advantage of motivated buyers and more confidence to list thanks to stable house prices.”
There are many challenges to come in the housing market in 2020 and beyond, but we are here to assist you, no matter what you want to do next.
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.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.
