Summer is traditionally the busy season for property sales and despite negative post lockdown predictions, the UK housing market would appear to be heating up again this summer. That’s according to a recent national property survey, conducted by Relocation Agent Network, of which Richard James is a member.
Survey respondents, including Richard James, found that property sales and rental activity are steadily accelerating as the market tries to regain momentum after a slow spring, when the UK Government’s Covid-19 restrictions put so many things on hold. While some public commentators had predicted rapidly dropping house prices, the majority of Relocation Agent Network members have found property prices to be holding steady, and even rising in some areas, including Northamptonshire.
65% of member respondents found no change in sale prices since the start of the year, with an additional 24% noting an increase in property prices.
The rental market is showing similar growth, with more than half (56%) reporting static house prices and 44% reporting price increases.
The supply of available housing for sale also seems to be strong. No survey respondents noted a significant shortage of available housing or a lack of buyer enquiries. Instead, 71% reported a busy market with good levels of property stock and buyer enquiries to match, and 29% reported good enquiry volume and not quite enough properties.
There may be many reasons for these encouraging trends. For some, it is that the temporary suspension of stamp duty is forcing would-be homeowners not to delay. Perhaps after a few months of lockdown in their homes, people want bigger gardens, larger houses or a home with an office now that they work remotely. Network members have also reported a trend of people relocating to new areas as they no longer need to live near to their place of work.
James Rota, spokesperson for Richard James said of the survey results, “For whatever reason, it would appear that the UK housing market is bouncing back, and that’s definitely the case here in, Wellingborough, Irthlingborough & Rushden. At Richard James, we have access to an extensive network of estate agents across England, Scotland and Wales, helping you to move both locally and further afield. For more information on our Relocation Agent Network membership, visit www.richardjames.net. We’re your Local Experts and can help with your buying, selling and renting needs.”