We’re heading for the final stamp duty deadline on 30 September, and the market is still very active, which backs up my previous speculations that strong market activity is not just due to stamp duty savings. Indeed, estate agents and mortgage brokers are just as busy now, with buyers bound to miss the deadline but still eager to move.
Demand for properties is still very high with an abundance of discerning buyers searching for a property that fits their ‘new normal’ lifestyle. As a buyer told me today, they want a home where their family can live rather than survive.
Here in the western home counties, we’re seeing strong demand from serious buyers who are looking for a new home to accommodate working from home, guests, outside space, multi-generational living and respite from crowded cities. The question on everyone’s lips is, will the market stay strong? That’s anyone’s guess – the last 18 months have shown us that the property market often moves in a different direction than we expect. However, the signs are strong that volume of sales and prices will remain steady.
We continue to make savings on holidays, social lives and work travel, all of which can be wisely invested in a home that will not only provide a wise long-term investment but also a higher standard of living in the short term and beyond. As a cautionary tale, I am seeing a few sellers who are overpricing their homes in the hope of capitalising on a busy market. This is a big gamble, the market may continue to rise to meet their expected price and could backfire.
We must always take a snapshot of the market as it is today and price accordingly. The market may go up and meet high prices or it may not. Either way, a property that has been on the market for a significant amount of time will ring alarm bells for buyers. Take your agent’s advice on pricing and if you’re not getting offers maybe they overpriced your home to win your business. This especially is the time to ask yourself, do you want a listing agent or a sales agent?
They are two different things! For more information or advice, please feel free to call us anytime.
Founder & Director
Kai Carter Estates