BUYIf you have been wondering if it’s a good time to sell your home, five boosts to the capital’s buying and selling market should help make up your mind. We’re monitoring the effects of the below, using the impact to help shape our property valuations and marketing campaigns.
- UK-based pent-up demand is expected to be released during 2021, with experts agreeing that demand will end up outstripping supply by the end of the year – helped along by a growing sense of wider positivity.
- A gradual return to international travel and a new visa that allows millions of Hong Kong residents to settle in the UK will boost the London buying market, with many overseas purchasers progressing plans they paused in 2020.
- House prices in London look set to increase, clawing back any losses seen in 2020. One property expert expects values to finish 2021 around 5% higher than at the end of 2020.
- The Government’s guaranteed 5% deposit mortgages have arrived and with all buyers – not just first timers – eligible, there will be increased purchasing activity to stimulate the entire London property market.
- The continuing stamp duty holiday - with its saving of up to £15,000 – will concentrate buying activity in the coming months. Sellers should come to market now as buyers are waiting to make their move as soon as possible
If you would like to discuss your moving plans, contact your local Aspire office today.
