Local House Prices to continue to grow strongly
The prime minister’s recent announcement of his plan for getting our lives back to normal saw a collective sigh of relief among us all. For parents it meant a definite date for the return to school and the end of homeschooling, and for us all it gave a glimpse of what we might be doing and where we might be going later in the year.
What does this all mean for the housing market in Leicestershire?
House prices are predicted to increase by 4% in the UK this year, but locally we will continue to see increases at a higher rate than the national average in our particular local bubble. (links to the last article on the performance of the local market).
We have enjoyed some of the best value housing in England and a growing local market will continue as a medium-term trend.
Clare Philips, Partner at Phillips George said; “The local market has remained incredibly resilient over the past year and has out-performed virtually every other market in the UK. Leicestershire has some terrific houses at great prices, just the type of houses that young families are looking for, for a great quality of life.”
“We expect the market to remain strong as families continue to look for homes that can deliver a good quality of life. Sellers in the local market remain in a strong position to do very well as they seek to move on.”
The Chancellor of the Exchequer, Rishi Sunak had announced the end of the stamp duty holiday on 1 April, and some have painted a picture of doom and gloom. However, rumours now abound that there will soon be an announcement of a three month extension of the holiday to the tax break.
Clare Phillips is sanguine about this news; “We can be confident that this will now happen, as these sorts of measures are usually drip-fed to the media by this government, and there is no smoke without fire.”
“This will be another boost to the market which is already in a strong position. Even before the idea of an extension was muted, we were really confident that the end of the stamp duty holiday would not impact too adversely on the local market. Now we see this as a big injection to the Leicester housing market, well into the summer. We will continue to be busy with lots of activity in the market.”
“I recommend to all those who were hesitant to put their house on the market to re-think and be ready to sell in the coming weeks and months.”
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Clare has been in the industry since 1998. Her career started as an administrator and she has worked through each role in estate agency from negotiator, sales progressor, valuer, manager and culminating in opening Phillips George as a co-founding partner. Through Clare’s career she has obtained professional qualifications with both NAEA (national association of estate agents) and ARLA (association of residential letting agents) to ensure that she delivers a first class service to all of her clients. Clare’s favourite part of estate agency and lettings is helping customers achieve their goals and making the process as smooth as possible for them.