Whilst this article is predominantly about the huge amount of activity in the property market over the last 12 months due to the Stamp Duty Land Tax savings, it is encouraging to read the the demand for property is still high now the holiday has ended.
Whilst all conveyancers will be happy to have a rest from the unprecedented levels of transactions, and the extraordinary efforts needed to help their clients with their property needs during this time, we don’t want the market to come to a standstill.
It is clear that the property supply is lower after the increased activity of the past 12 months, but due to the effects of COVID-19 on the workplace (flexible and home working), clients now want different things from their homes which I think will continue on even though the stamp duty saving is no longer available. In addition, many clients have made significant savings due to reduced spending over the COVID-19 period which makes them more financially able to move to a property that better suits their new lifestyle.
Rightmove continue to report high demand; as the holiday ends, they estimate that demand in England is 43% higher than in September 2019