All-time-low interest rates and a stamp duty holiday are driving a fast-moving market
The first quarter of 2020 seems a lifetime ago. We may well have forgotten that the 2020 housing market started with a boom, with record numbers of viewings and sales being set by many of our agency offices. However, along came Covid-19, lockdown and chaos as hundreds of people hoping to move home were left in limbo – unsure if they would exchange and move. Agency offices closed, banks pulled their ‘high risk’ products, many builders downed tools, and the news predicted a property crash.
During lockdown, we adapted our practices; our auctions went online, we became masters of the ‘virtual viewing’ and we were cautiously optimistic in predicting a surge in activity as restrictions were lifted. Sure enough, that’s what happened, and on top of interest rates at an all-time low and tempting mortgage offers, the Chancellor announced changes to stamp duty to further inject energy into the housing market.
Whether it’s moving within the area, relocating from further afield, or buying second homes, there has never been a better time to buy. Across all offices, our agents are listing more property, registering more applicants, arranging more viewings and agreeing more sales and lettings than ever before at this time of year.
We’ve seen some incredibly quick sales agreed on properties across the region, price ranges and styles, here are some of the highlights.
Martock, a fine 2-bedroom house with a Guide of £169,950, sale agreed to a local buyer within a week
Bridport, a stylish 3 bedroom bungalow with a Guide of £450,000, sale agreed within 9 days to a buyer relocating to the area
Eype, a charming coastal cottage with a Guide Price of £335,000, sale agreed within 4 days to a 2nd home owner
Motcombe, a spacious village cottage with a Guide of £425,000, after several offers, a sale was agreed within a week to a buyer relocating to the area.
Nyland, a period 4-bedroom house with outbuildings on the market with a Guide of £750,000, sale agreed after the first viewing to a local buyer
If you are thinking of selling or letting your property, or have your property on the market and are looking for a fresh approach to achieve a sale, please do get in touch.