Is now a good time to sell my property?
As we all know, 2020 has been a strange year! Coming out of the first lockdown, there was pent up demand for property which has continued throughout the year.
The current lockdown(ish) is a little different. Estate agents are still allowed to operate, and we were very well prepared from the first time around. We are now able to complete virtual valuations, providing customers with an easy Covid-secure option to provide information and photos of their property with just a few clicks. Off the back of which, we are then able to provide an accurate sales valuation. We offer virtual viewings for all of our properties, which keep buyers active in their search for a new home. We host weekly Facebook Live sessions on our properties, giving further insight and the ability for buyers to interact with our negotiators remotely.
Property sales are still happening, albeit a little slower. With solicitors, surveyors and mortgage lenders experiencing a backlog from the post lockdown1 demand, the conveyancing process is moving a little slower than usual. What does this mean for vendors and buyers? Regardless of your position, no doubt, you will want to complete before the stamp duty holiday ends at the end of March. With the sales process taking around 3 months from offer to completion, time is running out to benefit from all the buyers that are relying on that same stamp duty holiday.
In short, now really is as good a time as ever to sell your property.
- House prices are up 3.4% in the South East compared to last year.
- The number of available properties on the market has dropped by 15% between September and October, following an increase after the first lockdown. This may well continue meaning there is more demand than supply.
- The Stamp Duty holiday ends on March 31, 2021, meaning anyone buying a home before then will not be charged Stamp Duty on the main residence costing up to £500,000, saving up to £15,000.
- Mortgage approvals are up 28.9% in the South East compared to last year.
For more information on how we can help you make the most of your property if you are thinking of selling, just get in touch with our team on 01424 421 544 or firstname.lastname@example.org.