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May '21 Market Update...

Published: 22/12/2020 By Dougal Trentham (Head of Residential Agency)

Last Summer 'the Experts' predicted the Stamp Duty holiday would fuel a short lived housing market revival. Instead, here we are... continuing to list many excellent homes and conducting surprising viewing numbers (and acceptable offers are being made every 7th viewing on average). I suggest surprising- as buyers can no longer take advantage of the Stamp Duty holiday... but they are certainly still motivated enough to move for whatever reason.
Annual house price inflation even hit a seven year high of 10.9% according to Nationwide, with a typical home now  record £242,832.
To validate this narrative, over the last month we have witnessed numerous offers in excess of the listed guide prices being made to secure properties and have concluded the marketing process with several Sealed Bid/ Best & Final Offer situations.
Fortunately, more supply is starting to come and this will redress the balance. We therefore expect house growth to slow after the Summer.
If the time is right and you are thinking of selling, the time to capitalise is now. To discuss your property needs and your expectations, do contact me on 01794 512129 or d.trentham@w-w.co.uk. Stay safe.