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Will House Prices Go Down?

By Ellis Ranger

Over the last 18 months, the pandemic has run riot, leaving us locked inside our homes through multiple lockdowns. But will house prices go down now we’re living in a more familiar way of life?

During these strange and uncertain times, people in the UK began to think about what they wanted in a home. Did they want to upsize, downsize or move from a busy city centre to a home by the coast? Or did they simply want to leave the past behind to start a new beginning?

In our guide for both buyers and sellers alike, we answer those all-important property market questions:

Has there really been a ‘stamp duty explosion’ following the introduction of the tax break?

Yes. The stamp duty holiday saw the housing market become the most active it has been since records began, but what did this mean for house prices? House prices all over the country have been climbing every year and for the most part the trend has continued. As of June 2021, the average house price within the U.K has increased by 4.7%. A huge contributing factor to the rising prices of homes came from the government’s stamp duty holiday. Up until recently, buyers didn’t have to pay the tax on properties worth up to £500,000.

Why was the stamp duty holiday introduced in the first place?

The stamp duty holiday was introduced in an attempt to keep the housing market turning over. It meant that access to the housing ladder was opened for new buyers, as well as allowing current homeowners to sell and buy tax-free. Buyers could increase their budgets and sellers took advantage of the mayhem by increasing the price of their property. This was because people were willing to pay that bit extra so they could save a lot in external fees. And removal firms like CBS Removals have been in high demand. And there still are some opportunities to save money on homes.

Whereabouts are house prices going down?

The market is arguably beginning to stabilise and despite some changes to the stamp duty holiday, house prices don’t always increase. In fact, it’s the opposite in some places. Leicestershire has seen an overall decrease in house prices by 2.5% from this time last year. Sellers in the LE14 postcode of Melton in particular have slashed prices by as much as 3% which has helped to secure sales. Buyers have been able to typically save between £4,000 and £14,000. The dropping of asking prices coincided with the stamp duty changes which now means buyers only avoid stamp duty on properties worth up to £250,000. However, people who agreed a sale prior to June 1st took advantage of the original £500,000 exemption.

And are prices actually going up in some places?

By and large the housing market has done well to maintain price increases across the UK, with areas such as London and Cambridge up 2.5% and 3% respectively from last year. And those prices will continue to creep up. Typically, you won’t get much change out of half a million pounds for a property in Cambridge although flats do cost considerably less. And in the capital, getting a house could very easily set you back £1 million. Buying a flat, again, works out much cheaper. But the area that has experienced the sharpest price growth is Cornwall, with Padstow and Newquay popular choices for buyers. With seaside homes being highly sought after during the pandemic, property prices in these areas has risen by 20%. 

What does this tell us?

Overall, the prices of houses is continuing to rise across the whole of the UK and this is said to be the quickest rate since 2004. However there are signs that certain areas will soon become cheaper to live in, which is good news for newcomers to the property market. In the north, property tends to be cheaper anyway and in a recent blog, we found out what £250,000 buys you. In our latest CBS Sounds podcast, expert Paul Blake gave his market predictions for the rest of the year and you can listen to the latest episode in full here.

If you are looking to move home and need some help, look no further than CBS Removals. We are a firm that goes the distance. You can get a quote by calling 01480 220434 or emailing info@cbs-removals.org.

These guys made a stressful day fun thanks to their upbeat personality and friendliness. Nothing was too much trouble. They went the extra mile and my whole family appreciated their attitudes. I will recommend them to anyone. Thank you for an amazing service
Davinia M.
08:45 07 Aug 21
They say that moving house is one of the most stressful events in your life - yet with CBS removals at your service this couldnt be further from the truth! Right from making the first phone call to enquire about their removals service, to the actual move itself and then the additional "after care" service the whole team were extremely professional, efficient, courteous and friendly and they all went the extra mile or 10 when one minor item got mislaid - you'd have thought it was an heirloom not a glorified (but much loved) curtain pole - that thankfully has been returned to its grateful owner! The guys worked especially hard on the move day and had enormous trouble getting large furniture through tiny door openings - and this without so much as a moan. But I had to get vats of tea and heaps of sugar to keep them sustained! I could go on - I shouldnt' miss the opportunity to praise the 2 Caroli/y/nes in the office who made it their mission to reunite me with the curtain pole. Such dedication! Can't recommend them highly enough - oh and now I'd like a quote please for some rubbish removal! A breath of fresh air working with them. Best wishes and my thanks to all of you. Keith
Keith N.
13:59 08 Jul 21
Fantastic removals company. Michael and David were so helpful and friendly delivering our belongings today. Would definitely recommend them. Thank you both.
Jane P.
15:34 02 Jul 21
Fantastic service from start to finish. The whole CBS team was very hard working and friendly. They made the process feel incredibly easy and were a pleasure to spend the day with. Thank you!
rosie C.
10:55 27 Apr 21
CBS made our move day as stress free as possible, great team on the day and loads of support from the office when we needed it.
Nick M.
12:01 07 Apr 21
Would definitely recommend CBS, they were great on our removal day! Turned up on time and were really efficient. The guys and lady were very friendly and did a great job. Lewis was great at coordinating everything.
Tom P.
18:20 06 Apr 21
We can’t recommend CBS highly enough after they got us moved in to our new home a couple of weeks ago. They took the stress right out of moving day, especially considering the added complications of having to move during lockdown. They were on time, worked quickly and effectively, and most importantly they took the utmost care with everything. They even went above and beyond to help fix our garage door which jammed on the way out (through no fault of theirs!!). Our keys were released late in the day, which being a Friday afternoon must have been annoying for the CBS guys. But they didn’t let it show one bit! They made sure that everything was exactly where it was needed and they didn’t leave until they were certain that the job was done and that we were happy. The whole team were professional, friendly and polite all day. Their customer focus really is first rate and I’d personally recommend them to anyone in an instant. Thank you Lewis and the CBS team! 👍🏻
Tom L.
12:50 31 Mar 21
The crew we're on time very polite and friendly and helpful will recommend your company to all my friends many thanks Caroline Wilson
Robin V.
15:51 27 Mar 21
We couldn’t have been more happy. CBS removals were friendly, hardworking, professional and swift. Quite a long wait for our keys on a Friday afternoon as well, and all the chaps made sure we were completely happy before leaving and never made us feel under pressure despite the late hour. Highly recommended. Thank you very much CBS
Amy L.
13:20 21 Mar 21
We couldn’t have been more happy. CBS removals were friendly, hardworking, professional and swift. Quite a long wait for our keys on a Friday afternoon as well, and all the chaps made sure we were completely happy before leaving and never made us feel under pressure despite the late hour. Highly recommended. Thank you very much CBS
Amy L.
13:16 21 Mar 21
Highly Recommend CBS removals , we had oversized awkward items to get to A -B and CBS were good bunch of lads with the right equipment and very competitive quote
Frankie 0.
12:04 09 Mar 21
I cannot recommend CBS removals high enough , they moved me from Kent to Bedfordshire , professional guys turned up on time all boxes and tape ready , Michael, Paul and James and Alex were very helpful and very competitive pricing with others that quoted , it’s was a very long day and they were patient with me deciding on location of furniture , they done overtime hours my opinion but did not request any extras , all the best CBS removals for the future , keiron
Keiron K.
13:21 06 Mar 21
Our moving day was a minor heart attack in the making but CBS were the only part that went well! Paul and his team on the ground and Carolyne back at the office all went above and beyond for us throughout solicitor induced delays and an extremely cold February evening. Highly recommended and will be my first call for any future "men with ven" requirements.
Peter P.
12:40 12 Feb 21
Lewis and Paul from CBS were great last Friday, so professional and helpful. They certainly took the stress out of moving - thank you so much 😀
Lauren M.
10:31 01 Feb 21
CBS removals , I would like to say first you arrived on time , your staff are so help full , polite , and professional,
l suffer with COPD and at short notice you helped me out off trouble and got me moved , so a big thank you to you and your staff ,

regards Steve
Steve C.
21:22 19 Dec 20
Provided me with a really competitive quote and were super helpful over the phone and offered good flexibility to work around my plans. Due to external factors I didn’t end up using their services but impressed and I will if I’m ever move back to the area!
Ian H.
17:59 03 Aug 20
James and the boys were punctual and worked efficiently throughout the day. They worked really well together as a team and made sure that we were happy throughout process. Would definitely recommend :)
Victoria S.
21:24 26 Jun 20
I didn't actually use CBS but I wanted to speak up for the efficiency of their communication, their openness, and the friendly manner in which they do business. Their quote was competitive, and I'd recommend others look into them.
Stuart L.
17:56 12 Feb 20
Called CBS last minute for our removal and could not recommend them highly enough! Great guys and great banter between them all. They went over and above to help us and make the move go as smoothly as possible.

If you need a removal Company I would give CBS a call.
Su A.
12:51 23 Dec 19
CBS Removals were an excellent firm to work with. Due to working for a pop up brand that travels across the UK, we often dread moving from one location to the next. However, CBS couldn't have been more helpful. They were professional, upbeat and went above and beyond to ensure our stock was moved safely without being damaged. CBS took care of everything from taking apart furniture and rebuilding, loading into their vans and transporting to our new store. We couldn't recommend them enough and will definitely be using them in future!
Eleanor M.
16:09 16 Oct 19
Had a great experience with CBS - showed up on time and moved everything we wanted, both men were friendly and helpful to us. We will definitely be using this company again in the future
Sydney L.
14:15 16 Oct 19
We discovered this new company quite by chance and I am pleased we did. The pre move service was excellent and the quote was the best we had been given, by around £400.00 . I liked the fact the price quoted was the final quote, other companies stated that the movers would be on overtime after 1700. Anyone who knows the A 303 knows that the chance of a delay is very real. The team turned up on time and were very professional, polite and hard working. Beds had protective covers as did my tables and wooden furniture. They had all the appropriate racks and ties. The move happened over two days due to the distance of moving from London to Devon. They turned up on time the second day to unload and again worked hard . The team had a good camaraderie between themselves and were polite and courteous to us. My wife said she would adopt Niall!!!
When we move again I would use this firm if they are prepared to journey down to Devon. Team were timely professional and more importantly no damages or breakages. Thank you all.
Cyril S.
14:58 31 May 19
We used CBS Removals to move house and we couldn’t recommend them enough. The team were friendly, efficient and hard-working. Good protection of all items which made their way safely to their new home. Very happy customers!
Hayley S.
17:59 26 Apr 19
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