By Stephen Parsons MNAEA, Director of Residential
As more and more of our favourite holiday destination sadly become subject to quarantine restrictions, those who had planned to start marketing their houses in the Autumn, seem to be bringing their plans forward. This combined with the delayed Spring market and the stamp duty holiday, has meant that we have seen a great deal more activity than we would otherwise have expected at this time of year, indeed Rightmove reported recently the highest number of sales in a month in July. This is an increase of 20% on the previous high, with a value of £37 billion of transactions.
In Wimbledon, we have seen that buyers are registering at a rate some 25% above what we would normally have expected for the time of year and whilst we may all be pleased for the respite from the recent heatwave, we see no end to buyers’ appetite for the new stock that we have been putting on the market. The family house market between £1,000,000 to £2,500,000 has been particularly buoyant and the strong demand means that we have all but sold out of the stock that we need to satisfy demand.
Reports of an exodus to more rural parts of the country are not exaggerated, but whilst we see families happily heading to Devon, Cornwall and other more rural areas, we are benefiting from an influx of buyers from Central London and overseas. Indeed the latest weekly ‘sales agreed’ figures for the area from Rightmove are up by 60% compared to the same week in 2019.
If you are currently trying to sell your home or considering marketing it in the coming weeks, then we would love to have the opportunity to chat to you and arrange either a virtual or physical valuation to help to get you on the move! Please click Here
If you would like to know more about how we are dealing with our work post lockdown or to get more information on the property market in general and some of the fantastic buyers that we have registered, then please contact me direct at firstname.lastname@example.org or call me on 0208 971 6780 so that we can see how we can help you.