Our feet have not hit the ground. Never could we have imagined another summer of the housing industry continuing the way it has.
The demand for property within the South Hams remains buoyant with little sign of any significant lull as we head into the winter months. There are certainly still queues of eager buyers who are in proceedable positions, wishing to purchase a property in coastal and rural locations.
Despite the stamp duty holiday coming to an end, purchasers and vendors are continuing to make their move, meaning there has been little change within the market. We are finding that due to such high demand, properties are being listed and offers accepted not long after launching them. According to Rightmove, the average length of time it is taking to sell a property here in the South West is the shortest in the entire country!
HMRC has said the surge in sales has led to a 50% higher rise in 2021 than in 2019, based on the first six months of the year. It is anticipated that sales will top 1.5million over this year. With Mortgage rates at their lowest and being very competitive it’s giving thousands of purchasers the boost to continue their property search.
Over the last few months there has been a huge increase in the amount of people looking to escape to our beautiful coastline and countryside. Many having rethought their current living situation and opting for homes that provide the space to enable them to work from home, multi-generational moves and relocations.
Since most restrictions have now been lifted from COVID-19, we have decided to keep a few procedures that have really aided the sales and rentals process. The main form being the use of virtual tours which are allowing those from further afield to get a better idea prior to seeing the property. We have found this really helps with the initial first impressions of our properties, and provides more of an insight to buyers.
If we can help at all with your current situation, whether that be sales or lettings, please do not hesitate to contact us. We will be more than happy to provide you with expert local advice tailored to your own circumstances.
Looking forward to the next blog – what will winter months have to offer?