As soon as the Brexit decision was “concluded” late last year, we were hit by the pandemic. Four years of uncertainty was condensed into a bottle neck of demand, which was then frustrated by three months of lockdown – and longer hair!
Three months of hair growth does not require three haircuts! Three months of pent-up housing demand DOES require three times the stock availability!
That bottle stopper has now been released, prompted by the end of full lockdown and the Treasury’s SDLT concession, which can save buyers as much as £15,000 in Stamp Duty.
We now have a mild frenzy of buyers and sellers all wanting to take advantage of the situation from their own perspective, especially while the BOE base rate remains at its historic 0.1%: Sellers know that buyers are active once more, with many determined to buy before the SLDT concession comes to an end next Spring. So they are rightly holding out for their price.
However, it would not be unreasonable to expect that unemployment and confidence in the economy in general are likely to take a hit just at a time when the SDLT concession finishes. As estate agents, our job is to help you make the most of the current market.
If you think a move might be on the cards within the next six to nine months, our advice is certainly to bring that move forward. Act now! Let us find you a buyer quickly and help YOU become a strong buyer yourself. You might just find that things work to your advantage both ends!