August Market Comment

August is traditionally a quieter month in a normal market, but the property market in August 2020 is anything but a ‘normal’ market. Recent events have influenced the situation we are now in.

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 - yet 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 low of 0.1%.

This very unusual situation has culminated in both buyers and sellers looking to take advantage of a busy market place with benefits to both.

As estate agents, our job is to help our clients 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!

It does not matter if you are just looking to sell only, upsize or downsize, let us find you a buyer quickly and help YOU become a strong buyer yourself if you are buying again. You might just find that things work to your advantage at both ends!

Please feel free to call us now on 01322 228090 for immediate attention.