Who’s looking forward to a New Year

Whilst 2021 has had its fair share of ups and downs, surprises and stresses for many people on the housing market – the important thing to remember is that it has been an amazing year for people making the move and securing their keys to their forever home.

North West Takes the Podium

The Northwest has seen a huge surge in demand in 2021 for people looking to buy property in Stockport, with the people looking at how to sell a house struggling to stay ahead of that demand.

As a great mixture of rural and city accessible landscapes, it became the epicentre of house hunting activity from people as far as Birmingham and London seeking second homes or full countryside moves. It has also been a prime area for people seeking advice on renting a house in the area, making it one of the most sought after areas in the county.

As the mortgage situation and the stamp duty holiday played their hands in increasing interest in housing, first time buyers came in the hundreds to the area to stake their claim on properties for the first time.

Buyers Getting Set to Move

With the end of the festive season mere weeks away, many people who have been preparing to move out of their properties into a new home in the new year creates an influx of fresh properties coming to the market.

January seems set to continue the housing demand and, although no one can predict what 2022 will have in store for the state of housing, it is sure to see many people coming into the scene to get a place better suited to their needs – even if Omicron decides to make our lives a little difficult, to begin with.

Independent’s Are Still the Best

Over the past year, it has been hard for many national estate agencies to keep track of the growing desire by many to purchase or sell their homes in a quick fashion. This has resulted in independent estate agents Stockport seeing their services more approachable to those wanting a more satisfactory result.

With a more personable approach and existing relationships and reputations with many businesses and individuals around the localised area, the team at Joules have enjoyed a stellar year of satisfying customers with a more dedicated and personalised service.

This we look forward to continuing as the new year starts to show its true colours, and whatever challenges are faced within the housing market moving forward, they will be faced together. All of our team at Joules estate agents Stockport wish everyone a Merry Christmas and a Happy New Year for 2021,

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housing boom

Will Omicron Affect the Housing Boom?

Circles of uncertainty from many industry insiders point to the potential effects of the Omicron Covid variant currently circling the nation, with forecasts of doubt on the housing boom and  housing market in particular.

With the quicker pace of laboratories providing anecdotal evidence at a much faster reaction compared to 2020s efforts providing some positive outlook, it is still difficult to gauge the effect that the housing market will have if any.

Uncertain Start to 2022

The new variant could produce a delay in the anticipated interest rate rise, a previous dead cert among analysts for the Bank of England’s monetary policy committee meeting this week.

With expected rising rates and growing supply set to start applying downwards pressure on prices in 2022, the Omicron variant has raised concern that, if proved to be serious, may affect supply and demand around the timing of the rate rise – causing frustration and uncertainty in the outlook.

Clear Trend

A clear trend that is certain is that demand has shifted back towards the Southern area of London, which is clear when looking at the change in volume of new prospective buyers registering interest over the previous 3 months in comparison to 12 months ago.

Whilst areas in prime central London saw their biggest ever increases at 78 per cent or above, they were still dwarfed by the demand for more countryside escape moves that saw a huge increase in 2020 and resulted in a majority seeking to buy property in Stockport and other rural areas.

Many overseas buyers are preparing to enter the market again in 2022, and it means that they are following the Omicron variant situation in a very close manner to determine their course of action. With more buyers registering from overseas and the Middle East, the market still seems to be in a precarious holding pattern.

Domestic Buyers

Domestic buyers are providing the lion’s shares of current activity, with several sellers of London property still seeking a move to the country. Others include those who have moved to the country but want a second property with a more city central base.

Supply is set to get somewhat stronger at the beginning of 2022 – providing the Omicron variant does not drastically alter the landscape of the country as Covid did in 2020. The vicious circle of low supply was instigated by the Black Friday levels of house sales centred around the stamp duty holiday, resulting in owners not being able to find homes to move into themselves.

With sellers now looking to postpone their house sales until after the Xmas period is over, 2022 is looking to see a surge of new properties going to market. How Omicron will play into the 2022 housing landscape/ housing boom, but the response to this level of the variant has seen a rush to combat it at the head.

Contact the team at Joule’s estate agents Stockport for information on how to sell a house and all buying a property advice.

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