Property Boom set to last all summer
With the stamp duty deadline approaching, many people are wondering what will happen to house prices. Some people are debating about what to do with their property and if it’s worth selling now. But, experts are suggesting that a quick sale at a reasonable price is still possible before the end of the summer.
What The Data Shows
One of the most extensive surveys of active house buyers recently reported its findings. They found that buyers are motivated, and properties are moving fast. Is the Property boom set to last all summer.
The headline results from the survey are that 75% of buyers expect to buy within three months. And a staggering 28.5% of properties have sold within 30 days of being listed. When you realise that in the same month last year, only 8% sold in that time frame, it’s clear that the property market is moving at an unprecedented rate. Moreover, all signs suggest that it is set to continue to do so.
The rate at which properties are selling does vary by location. Properties in Scotland are moving the fastest, with more than 33% selling in under 30 days. Greater London is seeing the slowest rates, with only 20% being sold in the same time frame. However, that is still much faster than usual. The only area in the UK where the trend is reversed is in Wales.
Does Property Type Matter?
Buyers in the UK do currently have a preference for three bedroom semi-detached homes. The average asking price for these properties has risen to £334,395 as of the end of June 2021.
As you might expect, London is the exception to this trend. When it comes to preferred property type, it’s two-bed apartments at the top of the list. The average price for these in London is up to a staggering £817,559.
While these are at the top of the list, any homes that offer more living space, access to outdoor space or are located near green areas are also proving popular with buyers. As a result, experts predict that the upward trend of prices is set to continue for all these types of properties.
Is Your Property Ready To Sell?
If you’ve been considering selling a property but don’t have it on the market yet, it’s not too late. With properties selling so quickly, there are plenty of opportunities for you to list and sell your property before the stamp duty holiday ends. That way, you can still get the best price possible.
But, getting your property ready to sell quickly means that you will need to get some assessments done quickly. The most vital one to sort out is getting an EPC assessment. Before selling any home, you must be able to present an up-to-date Energy Performance Certificate.
If you are thinking of selling, why not book an assessment with one of our experts today? This assessment is a comprehensive two-hour appointment. During this time, we’ll complete the evaluation and offer support for any questions you may have. Then you’ll be ready to sell your house as soon as possible.
