When thinking about suitable content for our home page introduction, I must admit to sometimes struggling to find a new message and topical subjects, but right now there is no shortage of interesting subject matter when it comes to the housing market, so here goes:
The original closing date for the stamp duty holiday has come and gone, and with it a record number of transactions, not only for us but I suspect the industry up and down the country. However, replacing good stock during 2021 has been another focus for us, and we have certainly seen a shift in the supply and demand balance which has created something of a sellers’ market, and with it house prices rising for the first time in a while. So what has caused this in-balance and what do we think the next few months are going to bring to the market? Of course there are any number of possible reasons, and if you ask different “experts” you are likely to receive a range of different answers, but my personal view is that we are continuing to see the impact of people moving further out from London, people re-evaluating their lives and people looking at medium to long term changes in their working environment; all of which, one way or another, seems to be creating higher demand within the Surrey Hills area. Furthermore, supply has been slow in coming to the market, I suspect due to the most recent lockdown, as people struggle to balance their family/work life in these changing times and are maybe waiting until restrictions are loosened and the Spring months arrive in all their warmth and glory.
And this isn`t just happening in the sales market; the rental market is equally experiencing a similar in-balance and as a result rental yields are markedly up across the board. So, as we do come out of lockdown in the coming months it will be interesting to see what happens to the supply and demand balance. My hunch would say that we will see supply rising fairly rapidly and therefore see an increase in general activity but with it a slowdown in the rise of house prices, which, to be honest, may not be a bad thing for the medium-term prospects of the market.
There you have it; my very brief thoughts on what is a massive topic, and only time will tell how things pan out throughout the remainder of the year. In the meantime, if you are looking to buy, sell or let a property in this area, both myself and the team here at Kennedys` would be pleased to assist in whatever way we can.
COVID Working Policy• We have asked all our clients to let us know if they develop any Covid-19 related symptoms, should this occur we will stop property viewings immediately.
• The home occupier must not be present for the viewing (sitting at the end of the garden or in their car is fine) and we ask that all internal doors & windows where possible are left open, to minimise risk and physical contact with the property.
• We ask that no more than 2 people attend the viewing, they must be from the same household & must be the decision makers i.e. no children or relatives.
• Viewers must confirm, prior to attending the viewing, that they have not displayed any Covid-19 symptoms or received a positive test in the last 10 days.
• Viewers must wear a face mask, the Kennedys’ representative will also be wearing appropriate PPE.
• The viewer must be proceedable, meaning they are either under offer on their own property or don’t need to sell in order to buy.
• 2 meters distance must be maintained at all times.
• We ask that all viewers withhold from touching anything within the property.
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