The Steadfast of The Current Housing Market
When the stamp duty holiday finished at the end of September, it sparked predictions as to what would happen next with the current housing market. Some experts believed a crash was upon us and while others believed the market would in fact continue to boom.
Looking at the recent reports released by Forbes and other online reports from B.A.R (British Association of Removers) it seems that the market has in fact held its course in terms of sales agreed, only seeing a minor drop compared to 2019 – dubbed as the last “normal market” to be compared to.
The review posted by B.A.R explained that whilst the the amount of houses coming to market in the months of September and October this year in comparison to 2019 was down 10%, the agreed sales only suffered a minor 3%, even after the rush that was the stamp duty holiday.
It would seem that the current housing market has withstood the intense pressure of the stamp duty holiday. It seems that people are still as active as ever when it comes to moving house. The big question is as we head into the New Year, is the market going to maintain its semi-consistent stature, or will it begin to crash?
Forbes also published an article explaining that the stamp duty relief is not the only reason for the success of the market. They say record low mortgage rates and the desire for more space after the mental and physical toll of the pandemic contributed too.
Off the back of these consistent sales, the average house price has increased by 10.6% from August to now.
Removals companies who have reaped the benefits too. If you need help with a move, call CBS Removals on 01480 220434 or email firstname.lastname@example.org.