Those looking to market their homes have a date to get things in order by March 23rd – giving them just merely a couple of weeks to be sure to benefit from the extended stamp duty holiday. Continue reading to see the latest UK housing market news from Joules Estate Agents.
Rightmove stated that on average a seller would have 65 days in order to find a buyer and it would take a further 126 through the legal processes to complete. On this basis, sellers would need to come to market by March 23rd to make sure buyers can make use of the tapered end to the stamp duty holiday by September’s end.
Huge Rise in Purchase Interest
As last week’s budget was announced, Rightmove saw a record 9 million-plus visitors providing their busiest day in history and a 6% rise since the start of the holiday.
With the implementation of the 95 per cent mortgage scheme catapulting new buyers to the market on top of the stamp duty extension, estate agents in Stockport have found an abundance of enquiries for available properties as well as those shortly to be coming to market.
Overall the amount of renewed interest in buying a property advice skyrocketed to 82% higher than the year previous, with 12 areas in the north being a prime focus of interest for buyers in comparison to London’s five areas. With a newer interest in the market, those looking to sell property are suddenly finding themselves on a knife’s edge when it comes to time frames with interest so high and a time scale of stamp duty about to shut the door on potential.
Affordability Plays into the Increase
With more people now available to afford the first mortgage were not previously applicable, the arena for certainty has opened its doors to a buying frenzy for those seeing the writing on the wall that another opportunity like this maybe will not come by again. In comparison, many more homeowners looking to sell property see this as the perfect time to sell up via independent estate agents in Stockport and ensure a sale within the year.
Many people have held off on selling their properties for a multitude of reasons, not limited to market uncertainty and not knowing of its effects on how to sell a house in the climate. This has caused an upsurge in help from estate agents in Stockport who can help navigate the hills and valleys of the market to get the very best deal in time.
Now is the time for those looking to trade up for more space or sell a second property to get the ball rolling. Contact the team at Joules estate agents for the best independent advice and service.