A property market bounce is expected in the early part of 2021 as buyers are expected to push completion before the proposed end of the stamp duty holiday in March.
More than 100,000 extra house sales are expected and comes on top of new agreed sales 38% higher than a year ago.
The market could even see a pre-Christmas pickup above previous years. Zoopla believes December could see the largest number of house sales in a decade.
The UK property market has not suffered as much as other sectors of the economy and with the stamp duty holiday so sales increase after pent up demand after the first lockdown.
The market is expected to finish strong this year.
According to HMRC October saw a 10% increase over September and 8% higher than the same month last year.
The economic support measures over the pandemic have helped to maintain and even increase house prices and sales volume.
There are problems though. The rush to complete before March 2021 is seeing delays in the process meaning some may struggle to complete before the deadline.
If you need any advice or help to beat the deadline and get your mortgage in place, give me a call and I’ll take you through your options.
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