The Post-Pandemic Housing Market
The current property market “resembles a supermarket in the early hours of lockdown: the shelves are bare”.
The demand for houses is still very high; we have a huge list of applicants on our books looking for a home – to no avail.
The ratio of sold to available properties is at its lowest ever level since 2002, and it has been a very difficult few months trying to manoeuvre our way through this new market, which simply cannot be maintained long term.
However, a steady return to normality is predicted after September when the final stamp duty relief ends and the market becomes less frenzied. This should encourage more sellers to list their properties for sale and therefore initiate a greater balance to return. This is welcoming news to those in rented, first time buyers and investors.
Until such time, and while the market remains in its current state, we have a few tips to help you secure your next home:
Get an Agreement in Principle from your mortgage advisors so you are ready to go if the perfect house comes on the market.
Ring around your local estate agents and register as an applicant, at the moment, we are often selling our houses to our registered applicant before they even hit internet portals.
Set up portal alerts (on sites such as Rightmove) so that you are notified as soon as a new property within your budget and location comes on the market.
If you are a current homeowner looking to move, ensure your home is either sold or up together on the market ready to be sold as soon as possible.
On another note, we are delighted to announce that Meyers Shaftesbury won The British Property Gold Award 2021 and have been nominated for a number of further national awards!
Please get in touch for any property advice or a free expert valuation on your home: