The imbalance between supply and demand characterising the housing market forecast throughout 2021 is not expected to last beyond the summer.
The combination of a lull following the stamp duty holiday and the summer break has kept things stable, however, prospective sellers are expected to make up their minds on committing to selling homes after the summer holidays end.
Normality On Scope
With prospective buyers at a 42% higher on the five-year average, demand will staunchly remain within the system. With continuing low mortgage interest rates and increasing optimism over the wider economy, people are starting to feel that the worst of the pandemic is behind them and normality is beginning to creep back in.
The double-digit house price growth is most likely due to slip back to single figures by Christmas 2021, resulting in a prime moment for sellers to act sooner rather than later to benefit from the sales of their property.
The space race continues to be of prime importance for buyers and nowhere has that been more prevalent than in the North West, where typical green views are around many areas in Cheshire and Stockport.
Homes on the Radar
With supply being in high demand for these areas, estate agents Stockport have seen dramatic increases in not just sales of homes, but quick enquiries on how to sell a house to get an advantage on the current demand for rural housing options.
The appetite for homeownership has seen an incredible skyrocket in 2021, thanks in part to the aforementioned stamp duty holiday and the government’s Help to Buy equity loan scheme that has seen over 55,000 households secure a home over the year.
Stockport has seen no shortage on both sides of the housing scale with sellers and buyers, including young first-time buyers, taking full advantage of the past year’s events. Now with the housing market forecast for Autumn predicting a sense of things slowing to normality figures, will we see the last-minute surge in homes being sold to avoid disappointment following the end of the summer?
If you are looking to buy property in Stockport or looking at getting the best sale on your property within that area, now is the time to avoid the disappointment levelled at the uncertainty the latter part of the year is currently holding.
With many people struggling to get the attention from nationwide estate agencies, many are turning their focus to independent estate agents Stockport to gain a more satisfactory service. Contact our team at Joules estate agents Stockport today.