No End In Sight For Sales Market Boom

Posted on: 20 October 2020

No end in sight for sales market boom


There are a number of key reasons that make October 2020 an exceptional time to begin your next property transaction. Here are just a few examples to take your pick from:

- Stamp duty savings worth up to £15,000

- Mortgage approvals and sales at a 13-year high

- 5% annual property price growth – as reported by Nationwide

- Buyers are keen to act immediately, leading to increased levels of accepted offers

Across the UK, many of us are experiencing restlessness with our living situations.

We’ve spent all summer cooped up, so it’s no wonder that as we head into October, we’re seeing a rising sentiment amongst buyers and sellers that now’s the time to take your property plans off pause and get moving again.

After their House Price Index revealed a four-year high price growth, Nationwide conducted further research to establish which regions are seeing the strongest levels of interest from Brits.

As the below research tells you, one in five homeowners (17.7%) are currently considering moving, with a further one in ten (9.9%) well on their way to completing on property transactions in 2020.

Table for homeowners who are either in the process of moving or are currently considering it as a result of the COVID-19 outbreak.

Region Considering moving Moving
London 25% 17%
South West 21% 11%
West Midlands 20% 11%
East Midlands 23% 8%
South East 18% 9%
North West 16% 11%
Yorkshire and Humberside 18% 9%
East 14% 11%
Scotland 17% 7%
Wales 12% 10%
North East 11% 5%


With the market showing no signs of slowing down, what can you do to speed up your sale and ensure you are able to take full advantage of current market momentum?

An important part of the process is choosing who will represent your interests.

As the local property experts in your area, we’d hope you’d think of us first for your property interests, but there’s also the matter of finding the right solicitor or conveyancer.
Here are our tips for a seamless experience with your legal representative.

Respond quickly and clearly

We get it – receiving a request for different bits of paperwork can be off-putting.

After a long day at work, the last thing you’ll want to do is wade through files to find the right answers or items being asked for.

However, failing to respond promptly will only hurt your sale or purchase. Taking a week or two to respond can delay the whole process and risks pushing your transaction to the back of the line.

So, if at all possible, make sure you’re getting back to your solicitor within a couple of days.

Prepare before every call

There will be dozens of questions that occur to you along the way, so to maximise your time and build an efficient dialogue with your solicitor or conveyancer, prepare a list of questions before each phone call.

That way, you can avoid missing something crucial.

Be flexible

Having a fixed timeframe in your head can be a useful way to visualise and track your progress towards the finish line.

That said, it’s important to balance your wants and expectations with what is actually realistic.

A good agent will be able to help you determine this from the beginning.

For more information on how we help homeowners navigate the local market, contact us today for your valuation.

Share:


Recent Articles

20 December 2024

How To Make Your Pets Look As Festive As Possible On Christmas Day

One fun way to involve your pets in the celebrations is to dress them up for Christmas Day. 1. Christmas Jumpers • Cosy Knits: Your dog or cat can stay warm and fashionable in a soft, light jumper with festive designs like reindeer or snowflakes, especially if they have short fur...

18 December 2024

Get A Festive Grip On Your Garden Pathways!

Ensuring your garden pathways are safe and not slippery over the festive season is crucial, especially when greeting visitors. Cold, damp, and icy weather can make outdoor surfaces hazardous, but a few easy precautions can help keep paths safe. Maintaining clean, well-lit, and grated...

17 December 2024

Buyers And Sellers, Act Now: Sales Surge Amid Stamp Duty Increase

  Stamp Duty Land Tax changes are coming into effect 1st April, and purchasing a new home before this date can save you thousands of pounds.   As we approach the April stamp duty deadline for England and Northern Ireland, there is no denying the bountiful...

Get an instant online valuation

Find out how much your property is worth