Expert property advice
James Clarke explains why it's a dominant sellers market
The question I am being asked currently is why has the property market gone crazy!
I must say in the 22 years I have been an agent I have never experienced a market quite like this. It’s a dominant sellers market and here are my thoughts on why, especially in the family home market in the Plymouth area.
It’s been the perfect storm.
During lockdown and with the pressures of homeschooling, understandably less physical valuation appointments took place and there was a noticeable lack of property coming to the market in January. We then saw the extension of the stamp duty holiday and the announcement of availability of 95% mortgages. Add to this a desire to live in the West Country with employers offering home working options, as well as Spring arriving, which has always been the most popular season for selling property. And finally Interest Rates are historically low right now! So when you put all of this in the mix it’s no wonder the demand for property is at an all time high!
My advice to sellers is if you are planning to sell this year now is a fabulous time - take advantage of the factors above. It is no surprise that the number of property transactions are 49% higher than last year.
If you are thinking of buying make sure you are registered with your local estate agents. We have noticed views to our website, social media channels (particularly You Tube) are increasing as buyers want to see new instructions before they hit the major portals. At the same time make sure you are ready, if you are getting advice get that advice before you view property and be ready to act fast to secure your dream home.
For more information please contact us www.langtownandcountry.com and we will be happy to talk things through with you.
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Tel: 01752 456000
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Tel: 01752 200909