buyer demand

Buyer Demand Could Result in Property Dry Up

With current high buyer demand in the housing sector from buyers reaching all-time highs over the last few weeks, there is concern that supply of homes could potentially struggle to meet the demands with prices also soaring as a result.

In newly released figures showing a 25% of people focused on buying a new house in the immediate future, a further 28% are saying they are considering purchasing a property whilst just 4% are looking to sell this year. On top of these figures, a further 12% are considering selling up.

This also leaves an approximate of 6 in 10 owner-occupiers with no plans to sell up in 2020.

Whilst this mismatch in supply and demand is alarming, the biggest areas for concern are focused in London and the South East, with 69% planning to purchase property in the capital against 12% of homeowners considering selling and a further 4% definitely selling up.

The outlook for the rest of the UK continues the trend.

Wales weighs in at 50% of people planning to buy in 2020 with just 11% of homeowners planning on selling. Scotland brings in slightly better with 49% buying weighing against a 17% selling.

It is the South West that felt the benefit of the smallest gap in the market where 52% are planning on buying properties against the selling group of 23%. Still a significant difference.

The unprecedented buyer demand from 1st-time buyers to landlords are no doubt generated from post-lockdown desires to move homes and buy property in Stockport. With the economy suffering from Covid-19, the activities in the housing market demand are a sign that the sector is resilient and buoyant into 2021.

However, those reluctant to sell against the increased number of those intent to buy could dry up the stock in UK housing resulting in many first time buyers struggling to establish a home.

With supply challenging the housing market and the government intent to deliver thousands of more new homes, demand will take a huge priority from hopeful homeowners and landlords looking to secure their step on the property ladder this year.

For buying a property advice and guidance on how to sell a house, contact Joules today.

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house price index

House Sales at All Time High

According to Rightmove’s latest house price index, sales agreed in a month are 20% over the previous high at a record total value exceeding £37 billion.

This is also in line with the highest number of properties on the market since the early part of 2008. Seven regions have also experienced record high’s for new sellers asking prices whereas London has fallen below the national average at a 0.2% fall. This has been incredibly positive news for those wanting to buy a property in Stockport.

All market sectors are seeing upwards growth for sales agreed with a 29% figure in the first-time buyer sector, with the second stepper coming in at 38% and top of the ladder coming in at 59%.

The latest number of sales weekly figures have risen by 60% compared to a year prior and, whilst that momentum is soaring, supply is also seeing amazing rates of climb. With this year’s figures from the house price index, properties coming to market have witnessed a 44% hike on the previous year, though variations are taken into consideration depending on region.

London has an impressive surge of 69% additional properties becoming available on the marketplace, with areas such as the South East and East regions raising 60% and 56%.

With the unusually busy summer season playing an interesting factor in the interests of people interested in changing their surroundings.

This also presents a lot of new challenges for estate agents Stockport who are moving ahead with great speed to meet the increase, as well as legal and lending sectors taking on a lot of capacity constraints. Some staff for these areas will still be experiencing the unexpected furlough period and many more working from home.

With some lenders limiting product ranges due to constraints in processing mortgages, patience has had to be a virtue.

For buying a property advice, contact the team at Joules, the number one independent estate agents Stockport.

 

 

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Property Feature

Tenant Demands Post-Pandemic

Since the advent of Coronavirus, more and more tenants are pulling a focus on areas of demand from their property features. This process is ongoing but shows a growing increase in some features to be of more importance than years previous.

With many family members, business owners and individuals confined to home whether, by health concerns or work relation, faster broadband is now a top requirement on demands due to the increased need to work from home by either necessity or convenience. Previously, this was within the top 5 demanded items when taking advice on renting a house.

Priority areas that have also seen an increase in stature have been outside space which can be used for breaks from the house as well as extended working areas. Also, close proximity to green areas such as garden parks and nature walks is a most desired demand in the top 5 whereas previously they were closer to the 10th.

Certain features have seen a decrease in importance such as access to public transport links within walking distance with fewer people interested in easy access to cities since lockdown, as well as declining interest in features such as cinema rooms or gyms which previously ranked higher on importance.

The threat of a second wave pandemic has definitely played a part in tenants thinking seeking buying a property advice, with thoughts of the potential second lockdown shifting focus to more comforting and accessible features. Whilst some tenants will still desire the more sociable facilities such as the gym or social areas, the future forecast seems to determine more home-work seclusion whilst having time to relax in the fresh air.

With the future uncertain for getting back to a state of normality, tenants are adapting to the current needs during the outbreak to have everything required within the confines of home without the need to venture outside too often. This has become a new normal.

For the best property features for your search in renting or buying a property in Stockport, contact the team at Joules for the best independent estate agents in Stockport.

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property for sale in stockport

Looking for Property in the Stockport Area

For those looking for reasons why Stockport is a booming area for housing, it has become a city of growth in many areas with respected business owners and family development being a prime focus of the area for those seeking property for sale in Stockport or buying property advice.

From start up firms to established brands, it’s surprising that property prices in Stockport are among the most valuable and affordable in the North West. Stockport has a rich history with museums and garden areas that provide a rich environment to accompany its adoption of world class leisure facilities and attraction of brands occupying the area.

Whether you are looking for rich environments in Heaton Moor or Bramhall or something more close to the city centre, Stockport is at the heart of the North West’s booming property market, competing with Manchester’s much desired areas in selling houses.

As a city constantly keeping up with its image, Stockport offers first class rail and network links and direct route into Manchester City Centre for those working in the city.

Currently, property for sale in Stockport is on an increase even during the recent changes and effects of 2020 on the marketplace. Estate agents in Stockport have a quicker turnaround in house sales due to Stockport’s accommodation of detached homes which are a preferred and available option in the area. For those seeking advice on renting a house, Stockport also provides affordable and contemporary flats that are perfect for small families or students studying in the vicinity.

With so many options for moving to Stockport you need to talk with a team with exceptional knowledge over 50 years of selling homes throughout the area, contact the team at Joules Estate Agents.

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