It has been reported that June has shown record-setting months of house sale transactions for estate agencies throughout the UK ahead of the main stamp duty holiday deadline, with some agencies seeing as much as a 53% higher figure than recorded in March.
Growth in Numbers
New prospective buyers to the market have seen a growth in June at 42% above the five year average for the same month, with the number of agreed offers being 86% higher than the five-year average.
Frustrated demand is fuelling the UK housing market activity as the stamp duty holiday is winding down. Nowhere is this more in effect than in the North West, where demand for more rural housing is taking precedence over inner-city apartments or properties.
Housing Set to Stand
Currently, the financial impact of the holiday ending is expected to be smaller, and even with the pent up demand for international travel starting to see an increase due to restrictions being lifted, house sales are expected to surge through until the end of 2021.
As the stamp duty deadline had a substantial role to play in the huge surge of activity within the housing sector within 2021, it undoubtedly has been the reason behind the huge amounts of homes seeing agreed sales within commercial and independent estate agents Stockport.
Interest Past the Deadline
Despite the knowledge that many buyers would not meet the stamp duty deadline, the strength of the market has been consistent with increases in sales and offers for homes. Whilst initially seen as something short term, it is now believed that interest could carry this through until Autumn.
North West Pulls Ahead
Whilst some house sale transactions down South have been slow or seen not much in the way of difference in comparison to previous years, the North West is teeming with interest and seen as a property hotbed due to its green areas and access to neighbouring nature areas and leisure spots.
For the Northwest, the stamp duty holiday deadline has shown no signs of slowing down high interest in the area, with many expecting the desire to pay above asking price to lead the North West as the highest sought after properties on the market by the end of 2021.
Buying a property advice, friendly localised service and properties high in demand are the backbones of the team at Joules estate agents Stockport. Talk to our team today to ensure your first step on the property ladder is a firm one.