will there be a drop in house prices

Could House Prices Drop After Summer?

Some research indicates the gradual increase in the supply of homes reaching the market will provide a decrease in stellar price rises that have affected over the last few months, with an outlook that there could be a change by the end of the summer. So what do you think, will there be a drop in house prices?

Will Prices Cool After Summer?

As house prices have been driven higher by the squeeze of supply since the UK eased out of the pandemic, on top of the pent up demand and stamp duty holiday, the result was a burst of inflation for house prices.

Now with supply steadily starting to emerge back online, the UK house price growth is expected to slow after the summer which is a burst of promising news for those looking to buy property in Stockport.

Changes in Circumstances

As house prices have been the highest they have been for seven years, the surge in prices has been sparked by the unique circumstances of the pandemic and the desire for homeowners for more space and changed surroundings. The advent of the stamp duty holiday ushered in fresh new buyers never previously able to afford to get onto the property ladder and created a tidal wave of activity within the housing market.

Supply became an increasing issue in early 2021 due to constraints of home-schooling, the expectation of missing the original stamp duty deadline in March and uncertainty concerning new covid-19 variations that were starting to occupy the headlines.

In Need of Selling

Now that this news of increased housing supply is expected to provide stability for those seeking buying a property advice, it may also create a sudden surge in people looking at how to sell a house quickly to get a better deal as they wondering, will there be a drop in house prices.

Many sellers now jump towards local estate agents Stockport to provide a better service and opportunity of sale, providing a more personal service and not getting lost in a shuffle or pushed through as a quick figure based sale. With better ties to the local areas, their homes occupy as well as a trusted list of buyers to hand, independent estate agents Stockport become a more satisfactory model to sell their homes satisfactorily.

Stockport Leads the Way

As Stockport has become a highly desired area for housing and new homeowners, the area has steadily grown to become amongst the most rural and satisfactory areas for those wanting to escape city living, especially for those now working in a home-based role.

Regardless of how the market turns in 2021, Joules estate agents Stockport remains the most dedicated and knowledgeable source for those looking to buy property in Stockport. Contact the team today.