Reasons to be positive in a changing housing market
House prices have risen steeply in Leicester over the past four years, making Leicestershire a great place to live. You could be forgiven for thinking that it is property boom time in Oadby and Wigston, and you would not be wrong.
According to the Zoopla, Oadby and Wigston are among the biggest property price increases in the UK, with the price increasing 33% from £175 to £233 per square foot between 2016 and 2020.
Of course, prices have been buoyant throughout the area, but uncertain times may lie ahead as the end of the stamp duty holiday appears on the horizon. Many experts think that this could bring a readjustment of prices that could wipe out the benefits of the Chancellor’s tax relief move, when it ends at the beginning of April.
Clare Phillips, Partner at Phillip George said; “There are still lots of reasons to feel optimistic about the local housing market, despite the end of the stamp duty holiday coming soon. Rumours abound that the stamp duty holiday may be extended.”
“When buying and selling your home, you need to consider the long-term benefits of investing in your home. Perhaps no one would have anticipated the price increases we have witnessed over the past four years, but we know that the money we have in our homes far outstrips savings.”
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