New lockdown restrictions in England have increased property market activity, similar to the easing of the first lockdown surge.
When the first lockdown restrictions were eased, they sparked a record surge in new enquiries for vendors, buyers, landlords and tenants and over the past week, since Lockdown 2.0 was introduced, the market has seen strong growth once again.
Stats from Property Industry Eye show that website visitor volumes were 37% higher than the same week last year, and the number of people engaging with estate agents has also risen 37%. In all, new vendor enquiries, new buyer enquiries and new landlord enquiries were all up on last years stats.
This is great news for the property market which has been busier than expected over the past six months, and it looks as though it will stay that way into the start of 2021. It comes as industry groups push for a 6-month extension to the Stamp Duty Holiday which is due to end on the 31st March.
With mortgage approvals and legal work taking longer than normal, estate agents, surveyors and solicitors are all calling for the Stamp Duty Holiday to be extended for a further 6-months, which in turn, would yet again boost the market to pre-COVID levels. According to Zoopla, around 140,000 property sales are currently in the pipeline.
If it doesn’t get extended, there is still time to take advantage of the Stamp Duty Holiday, but you need to be fast. Luckily, there are plenty of buyers out there at the moment, as well as properties on sale to help build chains.
Contact us today, to discuss a FREE valuation and the Stamp Duty Holiday…
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