News this week saw the Bank of England’s deputy governor predict the very real possibility of the current market boom continuing after the end of the stamp duty holiday deadline in the autumn thanks to the latest house price boom in the UK.
Structural shifts following the pandemic, as well as a greater focus on home working, is setting to keep the market booming and elevating the demand for housing.
Whilst few expect the market to cool off when public support to the economy in general and towards the housing market is withdrawn, there is reason to trust that the recent increases in housing demand that have been a drive for the UK market over recent months reflects a that the market will not drop back to its pre-pandemic state with the disappearance of the tax incentives.
Earlier this month, a slew of house price indices and forecasts predict that house price inflation is approaching 10 per cent.
New Players to the Field
Around 19 per cent of renters are estimated to have enough savings to afford a mortgage, even at 95 per cent loan to value.
Adding to this, the continued drive by homeowners to upscale following the events of last year is seen to continue, and further doors are expected to open with people who were waiting for the vaccines to take full effect before choosing to buy property in Stockport or take action in how to sell a house.
With the United Kingdom now starting to open doors and get back to business as usual, the expected increase in house viewings and mortgage applications are preparing to see a surge in interest in the northwest, where interest is currently riding high over most house-hunting locations.
With these factors in play and the current climate not showing any signs of stopping past the Autumn months, those looking to cement their name on their first or second property are finally making the move to secure their piece of property.
Choosing a Local Service
Those looking for more localised service from independent estate agents in Stockport are finding a higher rate of satisfaction from the service, with some people able to make quicker deals on their property choices and a more satisfying buying experience.
If you are among those looking to jump their first step into the housing market or are finally feeling safe and more secure in buying property in Stockport or putting your house on the market, it is time to talk to the team at Joules estate agents in Stockport. Call us today to discuss where you are and where you are looking to be and the latest house price boom in the UK.