The Housing Market’s on the Move
A recent study discovered that the majority of respondents are just as likely to move house now, as they were before the Covid-19 pandemic.
While some still need to move for work or financial reasons, others will move simply because they don’t want to continue putting their plans on hold.
Virtual viewings, which have been carried out over the pandemic, and still are for those that want them, have helped keep the market moving. According to the study, 1 in 6 people would put an offer on a house after a virtual viewing, without actually visiting the house.
An average virtual viewing takes about 25 minutes – during this experience 68% of people wanted to see every room, 61% wanted to see the garden, 60% needed to get a feel for the amount of work that would be required, and 56% wanted to get a feel for the amount of space in the property.
The introduction of the stamp duty holiday, until 31 March 2021, means that stamp duty will not be charged on properties under £500,000. This will really boost the housing market as buyers capitalise on this opportunity – those looking to purchase a main residence of £500,000 or more can save £15,000.
Covid-19 has also affected what buyers look for – 37% of respondents are considering swapping city life for county living, while 47% now consider the garden to be the most important feature. This information is useful for sellers who should make sure their gardens look as attractive as possible. Remove weeds, paint fences, trim hedges, put some bedding plants in for colour – ensure your garden looks as tidy and welcoming as possible.
If you need any advice on buying, selling, or renting a property, please get in touch with us on 0121 744 4144.
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