NH4U Articles

Housing market busiest it has been in 10 Years

Posted in: Latest News
 

When the UK went into lockdown, a lot of things began to stop altogether. The housing market was one of those industries which had no choice but to close down, as there were no possible ways in which a sale could be safely conducted, and a move could be properly done.
 
However, with the unlocking of the housing market, we have seen a massive surge of activity, and this housing market year has been said to be one of the busiest we’ve seen in the last decade.


The Effects of Lockdown

It’s safe to say that lockdown has had some pretty considerable effect on the way that people have been living their lives. It’s been the case that we’ve seen massive changes to how the world works, the way in which people move around, and the types of things that people do.
 
Obviously, the property market did stall for effectively 4 months, as people have been unable to make the purchases that they want and therefore we were unable to get the sales moving forward so all the buying chains stalled! An unprecedented time for all, but you can read here about how the award-winning New Home 4 U team took it all in their stride, putting our happy customers first.
 
So here we are. Well out of lockdown, and we look back at the first full month New Home 4 U has been operating (July) - and it was one of our busiest months on record! Consequently, this has resulted in a significant surge in the number of sales conducted in a single month. Sales across the whole property sector have seen a 38% rise over the predicted figure of the previous year and is also the highest number on record since the official compilation of data began 10 years ago. We're so happy to see our sector booming, and as Mold's leading friendly estate agent, New Home 4 U have continued to sell houses quicker than any of our local competitors.


Trends and Patterns

Since the stamp duty taxation break was announced last month, there has been significant surges in the sales of properties of all values across the property sector, and it makes us so excited to see the buying and selling chain in full swing, and operating quicker and more efficiently than we've ever seen! Now has never been a better time to either sell your old home or find the dream NewHome4U with Mold's leading awarding-winning estate agent.



Possible Explanations

There are numerous explanations which would attribute lockdown to the shift in attitudes towards the buying and selling of property. Many people have experienced a shift in priorities following the lockdown period. They have begun to consider what exactly they need in a home, and are now searching for a better home that will meet their lifelong dreams and ambitions.
 
It is also logical to assume that there is a release in terms of pent-up demand that has been speculated to have been brewing during the lockdown period. To put it another way, it is possible that people are now simply making purchases that should have taken place during the last 4 months of lockdown, however, with the unprecedented demand we're seeing has proven that there are people buying their first homes, moving for new jobs, or upgrading to their dream home.


Mortgage Advice that's out of this world!


To summarise, regardless of the explanation, it is so positive and exciting to see such considerable growth in the property market this last 2 months. There were many concerns from the experts within the property industry that the lockdown period would have a detrimental effect for many months to come. This has not been the case, and it is hopeful that this period of lashing activity will continue. If you'd like to sell your home, do it with an estate agent that cares. Call us today on 01352 837 837 - or click here to send us a message. We look forward to hearing from you!