Market Update February 2021

Published: 16/02/2021 By Sean Purtill

London has seen a price increase of approximately 2.9% in the last year.   However, if you take the decade from 2010 to 2020, then London has seen 40% growth over the period.

 Currently the market lacks a supply of houses with gardens and this is where demand is strong and prices are holding firm.
There is a large supply of flats, caused by people wanting to move up the ladder and benefit from outside space.  This over supply is relaxing demand, so vendors need to price accordingly.
All our offices are extremely busy, particularly in the rush to get deals completed by the end of March to beat the stamp duty deadline and save buyers up to £15,000.
We feel that the pent-up demand and desire to move out of the city centre will continue into 2021 and the market will flourish, once the majority of the UK has been vaccinated.
Our teams are carrying out valuations and viewings under government and industry guidelines.  Masks and gloves for both us and applicants are a minimum requirement for viewings.   Health questionnaires and maximum viewing times of fifteen minutes, with doors and windows open and vendors out of the property.
Our professionally produced videos and photographs have reduced number of wasted viewings, so that really serious applicants are able to make offers after first viewings.   We have had great feedback on our property videos.

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