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Why is the housing market so busy right now?

[/vc_column_text][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” width=”1/2″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]Every day you’ll no doubt be hearing different things about what’s happening in the housing market.

Here are our six key points on the property market this month:

  1. It’s a great time to sell your home

Properties are selling almost three weeks faster than the start of the year and the fastest pace Rightmove has ever recorded.[/vc_column_text][/vc_column][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” width=”1/2″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][image_with_animation image_url=”1973″ alignment=”” animation=”Fade In” box_shadow=”none” max_width=”100%”][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][vc_column_text]The number of potential buyers is also at a record high right now, putting you in a good position to get a good price and a quick sale if you’re thinking of selling. The best way of finding out exactly how much your home is worth is to arrange a property valuation.

  1. There are more buyers looking to move than the number of homes there are for sale

But in the past two months Rightmove has seen more homes coming up for sale – more than 260,000 new sellers came to market in the last two months alone. If you’re looking to buy, you’re likely to find it’s most competitive right now for homes with three bedrooms or more. We can let you know as soon as your perfect property is listed in your perfect location if you Register for our property alerts.

  1. What’s happening to asking prices right now?

Asking prices are at a record high and up in all regions compared to before the pandemic. Since the lockdown in March, prices in the South West have risen by an average of 9.3%.

The average asking price of a property has now reached a record high of more than a third of a million pounds (£333,564) in Great Britain.

  1. What’s the latest on rental prices?

Across Great Britain, there is a huge demand for rental homes in this exceptionally busy housing market. Asking rents outside London keep rising and have hit another record high, at an average of £982 per calendar month, which is the highest annual rise since 2015.

  1. What’s the advice for first-time buyers?

Now is a good time to buy a place. Mortgage lenders are offering competitive low-deposit loans.

Also, in England and Northern Ireland, as a first-time buyer you won’t pay any stamp duty tax on the first £300,000 of a property.

  1. What’s happening with Stamp Duty?

From 1st July until 30th September, there is a staggered return to the previous stamp duty rates. During this time, many buyers of a main home in England or Northern Ireland wont pay any stamp duty on the first £250,000 of the purchase price.

To find out more about what’s happened with Stamp Duty click here [/vc_column_text][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default” column_border_width=”none” column_border_style=”solid”][image_with_animation image_url=”2031″ alignment=”center” animation=”Fade In” box_shadow=”none” max_width=”100%”][/vc_column][/vc_row]

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Written By Wilson Tominey

June 21, 2021

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