Demand set to continue to outstrip supply as properties continue to sell quickly for record prices.
It is still very much a seller’s market as the property boom shows no sign of easing, as last month saw a 6.5% increase year on year. The market shows no sign of easing.
As we break out of lockdown and Rishi Sunak’s property tax holiday approaches, the bubble that this tax, (along with the pandemic’s impact), has had on the local property market marches on.
Clare Phillips, Partner at Phillips George said: “As the great British public wake up to new freedoms of movement, lockdown has changed the way we live and work forever. Working from home and remote meetings will not go away with the easing of restrictions, and a new flexibility in working patterns has led to new ways of living for millions of workers.”
This has enabled buyers to look further afield in the search for their ideal home, and more rural and suburban properties have benefitted from this change of heart. Older people too are making the move to gain more space.
Properties across the country are selling at the fastest pace ever recorded. Rightmove says that houses were taking just 45 days to sell in March, with one in every four sales agreed within a week of going on the market.
“This change in mindset is having a long-term impact on the way we buy and sell houses” says Clare, “So much so, that industry analysts are predicting that the buoyant market will continue through the coming financial year.”
“We would encourage our clients to sell now to take advantage of the vibrant housing market, but not to forget to make the most of their home with good preparation and good marketing to ensure you get the most out of your home. Talk to us to see what your property could achieve in the market today.”
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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.